Insider Selling: Casella Waste Systems (NASDAQ:CWST) Director Sells $1,380,044.85 in Stock

by · The Markets Daily

Casella Waste Systems, Inc. (NASDAQ:CWST – Get Free Report) Director Douglas Casella sold 15,157 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $91.05, for a total transaction of $1,380,044.85. Following the transaction, the director directly owned 91,484 shares of the company’s stock, valued at $8,329,618.20. The trade was a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Casella Waste Systems Trading Down 0.3%

Shares of NASDAQ:CWST traded down $0.31 during mid-day trading on Friday, reaching $90.72. 241,944 shares of the company’s stock were exchanged, compared to its average volume of 750,045. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.38 and a current ratio of 0.99. Casella Waste Systems, Inc. has a twelve month low of $74.05 and a twelve month high of $107.96. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 1,008.11 and a beta of 0.74. The business’s fifty day moving average price is $91.76 and its 200-day moving average price is $90.01.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group cut their price objective on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Barclays boosted their price target on shares of Casella Waste Systems from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Finally, Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.75.

View Our Latest Analysis on Casella Waste Systems

Institutional Investors Weigh In On Casella Waste Systems

Several large investors have recently added to or reduced their stakes in CWST. Pictet Asset Management Holding SA lifted its stake in Casella Waste Systems by 10,865.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 990,651 shares of the industrial products company’s stock valued at $97,040,000 after buying an additional 981,617 shares during the period. Wasatch Advisors LP grew its position in shares of Casella Waste Systems by 36.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,531,594 shares of the industrial products company’s stock worth $342,459,000 after buying an additional 949,374 shares during the period. State Street Corp increased its stake in shares of Casella Waste Systems by 60.7% in the 4th quarter. State Street Corp now owns 2,306,780 shares of the industrial products company’s stock valued at $225,926,000 after acquiring an additional 871,761 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Casella Waste Systems by 1,106.7% in the 2nd quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company’s stock valued at $100,067,000 after acquiring an additional 795,414 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Casella Waste Systems by 653.2% during the 4th quarter. UBS Group AG now owns 841,897 shares of the industrial products company’s stock valued at $82,455,000 after acquiring an additional 730,128 shares during the period. Institutional investors and hedge funds own 99.51% of the company’s stock.

Casella Waste Systems Company Profile

(Get Free Report)

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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