Michael Burke Sells 1,100 Shares of Casella Waste Systems (NASDAQ:CWST) Stock

Key Points

• Director Michael Burke sold 1,100 Casella Waste Systems shares at an average price of $92.99, generating $102,289 and reducing his direct ownership by 6.94% to 14,741 shares.
• Casella reported quarterly EPS of $0.40, exceeding estimates by $0.04, while revenue rose 16.9% year over year to $543.75 million.
• CWST shares traded near $93.74, and analysts maintained a Moderate Buy consensus with an average price target of $109.75; institutional investors own 99.51% of the stock.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) Director Michael Burke sold 1,100 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $92.99, for a total transaction of $102,289.00. Following the completion of the transaction, the director directly owned 14,741 shares in the company, valued at $1,370,765.59. This represents a 6.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Casella Waste Systems Stock Performance

Shares of CWST stock traded up $0.31 during mid-day trading on Wednesday, hitting $93.74. The stock had a trading volume of 250,060 shares, compared to its average volume of 733,704. The firm has a market cap of $5.97 billion, a PE ratio of 1,041.67 and a beta of 0.74. The company's 50-day simple moving average is $92.42 and its 200-day simple moving average is $89.35. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.99 and a quick ratio of 0.99. Casella Waste Systems, Inc. has a fifty-two week low of $74.05 and a fifty-two week high of $107.96.

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

Institutional Trading of Casella Waste Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new stake in shares of Casella Waste Systems during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after purchasing an additional 184 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Casella Waste Systems during the fourth quarter worth $27,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Casella Waste Systems in the second quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC lifted its position in Casella Waste Systems by 41.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock worth $33,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 99.51% of the company's stock.

Wall Street Analysts Forecast Growth

CWST has been the subject of several recent analyst reports. TD Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Zacks Research upgraded shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 14th. Barclays boosted their price objective on shares of Casella Waste Systems from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $109.75.

About Casella Waste Systems

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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