Casella Waste Systems (NASDAQ:CWST) Director Douglas Casella Sells 1,343 Shares of Stock

Casella Waste Systems, Inc. (NASDAQ:CWST) Director Douglas Casella sold 1,343 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $91.12, for a total transaction of $122,374.16. Following the completion of the transaction, the director directly owned 90,141 shares of the company’s stock, valued at approximately $8,213,647.92. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Casella Waste Systems Price Performance

Shares of CWST opened at $90.72 on Friday. Casella Waste Systems, Inc. has a fifty-two week low of $74.05 and a fifty-two week high of $107.96. The firm’s 50 day moving average price is $91.86 and its 200 day moving average price is $90.01. The company has a market cap of $5.77 billion, a P/E ratio of 1,008.11 and a beta of 0.74. The company has a quick ratio of 1.38, a current ratio of 0.99 and a debt-to-equity ratio of 0.84.

Casella Waste Systems (NASDAQ:CWST) last released its 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. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. The company had revenue of $543.75 million for the quarter, compared to analyst estimates of $526.43 million. During the same period in the prior year, the business earned $0.36 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. On average, research analysts forecast that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. Zacks Research upgraded Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. Barclays increased their price target on Casella Waste Systems from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Casella Waste Systems from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Hedge Funds Weigh In On Casella Waste Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in Casella Waste Systems by 41.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 98 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Casella Waste Systems by 3.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company’s stock worth $377,000 after buying an additional 149 shares during the last quarter. First Horizon Corp boosted its holdings in shares of Casella Waste Systems by 48.6% in the 4th quarter. First Horizon Corp now owns 489 shares of the industrial products company’s stock valued at $48,000 after buying an additional 160 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after buying an additional 184 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Casella Waste Systems by 46.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company’s stock valued at $65,000 after buying an additional 211 shares during the last quarter. 99.51% of the stock is owned by institutional investors and hedge funds.

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.