Casella Waste Systems (NASDAQ:CWST) Director Sells $104,786.00 in Stock

Key Points

• Director Michael Burke sold 1,100 shares of Casella Waste Systems at an average price of $95.26, receiving $104,786 and reducing his direct holdings by 7.46% to 13,641 shares.
• Casella reported quarterly earnings of $0.40 per share, beating estimates by $0.04, while revenue rose 16.9% year over year to $543.75 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $109.75; institutional investors own 99.51% of the company’s stock.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) Director Michael Burke sold 1,100 shares of Casella Waste Systems stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total value of $104,786.00. Following the transaction, the director directly owned 13,641 shares in the company, valued at approximately $1,299,441.66. This trade represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Casella Waste Systems Stock Performance

Shares of CWST stock traded up $2.56 during trading hours on Thursday, hitting $95.96. The stock had a trading volume of 517,079 shares, compared to its average volume of 722,290. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $6.11 billion, a PE ratio of 1,066.34 and a beta of 0.74. The stock's 50 day moving average is $93.15 and its 200 day moving average is $88.87. Casella Waste Systems, Inc. has a twelve month low of $74.05 and a twelve month high of $107.96.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its earnings results on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The business had revenue of $543.75 million for the quarter, compared to analysts' expectations of $526.43 million. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. The company's quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. As a group, research analysts forecast that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CWST. UBS Group reduced their target price on shares of Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating for the company in a report on Friday, June 26th. JPMorgan Chase & Co. lowered their price target on Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Zacks Research upgraded Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 8th. Weiss Ratings raised Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Casella Waste Systems presently has an average rating of "Moderate Buy" and a consensus target price of $109.75.

Hedge Funds Weigh In On Casella Waste Systems

A number of large investors have recently bought and sold shares of CWST. Riverbridge Partners LLC purchased a new position in Casella Waste Systems during the first quarter worth about $13,742,000. Legal & General Group Plc boosted its holdings in Casella Waste Systems by 134.4% in the 4th quarter. Legal & General Group Plc now owns 157,552 shares of the industrial products company's stock valued at $15,431,000 after purchasing an additional 90,340 shares in the last quarter. Allworth Financial LP boosted its holdings in Casella Waste Systems by 1,019.4% in the 4th quarter. Allworth Financial LP now owns 14,832 shares of the industrial products company's stock valued at $1,453,000 after purchasing an additional 13,507 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Casella Waste Systems by 17.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 124,356 shares of the industrial products company's stock worth $12,179,000 after purchasing an additional 18,671 shares during the period. Finally, Norges Bank acquired a new position in Casella Waste Systems during the 4th quarter worth approximately $39,343,000. Hedge funds and other institutional investors own 99.51% of the company's stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.

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