Jennison Associates LLC Has $38.74 Million Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Jennison Associates LLC lessened its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 389,351 shares of the industrial products company’s stock after selling 19,345 shares during the period. Jennison Associates LLC owned 0.67% of Casella Waste Systems worth $38,737,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CWST. Harbor Capital Advisors Inc. grew its stake in Casella Waste Systems by 108.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 66,129 shares of the industrial products company’s stock valued at $6,579,000 after buying an additional 34,340 shares during the last quarter. Williams Financial LLC bought a new position in Casella Waste Systems in the 2nd quarter worth approximately $2,427,000. Vanguard Group Inc. lifted its holdings in shares of Casella Waste Systems by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,536,410 shares of the industrial products company’s stock worth $547,385,000 after buying an additional 57,540 shares during the last quarter. Comerica Bank boosted its position in shares of Casella Waste Systems by 7.7% in the first quarter. Comerica Bank now owns 311,433 shares of the industrial products company’s stock valued at $30,791,000 after acquiring an additional 22,384 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Casella Waste Systems by 667.9% in the second quarter. Millennium Management LLC now owns 48,231 shares of the industrial products company’s stock worth $4,785,000 after acquiring an additional 41,950 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors.

Casella Waste Systems Price Performance

Casella Waste Systems stock opened at $111.33 on Friday. The business has a 50 day simple moving average of $102.90 and a 200 day simple moving average of $101.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.55 and a quick ratio of 2.48. The company has a market capitalization of $7.05 billion, a PE ratio of 927.75, a price-to-earnings-growth ratio of 6.48 and a beta of 0.99. Casella Waste Systems, Inc. has a one year low of $79.16 and a one year high of $112.64.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The company had revenue of $411.63 million for the quarter, compared to the consensus estimate of $412.59 million. During the same period in the previous year, the business posted $0.35 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that Casella Waste Systems, Inc. will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Casella Waste Systems news, SVP Paul Ligon sold 1,730 shares of Casella Waste Systems stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the completion of the transaction, the senior vice president now owns 21,085 shares in the company, valued at approximately $2,252,088.85. The trade was a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. William Blair started coverage on shares of Casella Waste Systems in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Raymond James upped their target price on Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $117.00 price target (up previously from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average price target of $111.50.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.