Key Points
- Director Michael Burke sold 1,100 Casella Waste Systems shares at an average price of $95.26, generating $104,786. Following the transaction, his direct holdings fell 7.46% to 13,641 shares.
- Casella reported quarterly EPS of $0.40, exceeding estimates of $0.36, while revenue reached $543.75 million, up 16.9% year over year and above expectations.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and 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 shares were sold at an average price of $95.26, for a total transaction of $104,786.00. Following the completion of the transaction, the director directly owned 13,641 shares in the company, valued at approximately $1,299,441.66. This represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Casella Waste Systems Price Performance
Shares of Casella Waste Systems stock opened at $95.96 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $93.22 and a 200-day simple moving average of $88.81. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 1,066.34 and a beta of 0.74. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $107.96.
Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $0.40 earnings per share (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 analyst estimates of $526.43 million. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. Casella Waste Systems's revenue was up 16.9% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, sell-side analysts expect that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on CWST shares. TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Weiss Ratings raised Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. Barclays increased their target price on Casella Waste Systems from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. dropped their price target on Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Finally, UBS Group dropped their price target on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $109.75.
Read Our Latest Stock Report on CWST
Institutional Trading of Casella Waste Systems
Institutional investors and hedge funds have recently modified their holdings of the company. Riverbridge Partners LLC acquired a new position in Casella Waste Systems in the first quarter worth $13,742,000. Legal & General Group Plc increased its stake in shares of Casella Waste Systems by 134.4% in the fourth quarter. Legal & General Group Plc now owns 157,552 shares of the industrial products company's stock valued at $15,431,000 after buying an additional 90,340 shares in the last quarter. Allworth Financial LP increased its stake in shares of Casella Waste Systems by 1,019.4% in the fourth quarter. Allworth Financial LP now owns 14,832 shares of the industrial products company's stock valued at $1,453,000 after buying an additional 13,507 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Casella Waste Systems by 17.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 124,356 shares of the industrial products company's stock valued at $12,179,000 after buying an additional 18,671 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Casella Waste Systems in the fourth quarter valued at about $39,343,000. 99.51% of the stock is currently owned by institutional investors.
About Casella Waste Systems
(
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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