Insider Selling: Casella Waste Systems (NASDAQ:CWST) Director Sells 1,100 Shares

Casella Waste Systems, Inc. (NASDAQ:CWST) Director Michael Burke sold 1,100 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 14,741 shares of the company’s stock, valued at approximately $1,370,765.59. The trade was a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Casella Waste Systems Trading Up 0.3%

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

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

Institutional Investors Weigh In On Casella Waste Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in shares of Casella Waste Systems by 9,321.4% in the second quarter. California State Teachers Retirement System now owns 6,974,373 shares of the industrial products company’s stock valued at $676,305,000 after buying an additional 6,900,346 shares in the last quarter. Vanguard Group Inc. grew its position in Casella Waste Systems by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company’s stock valued at $643,945,000 after acquiring an additional 581,310 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Casella Waste Systems by 1.5% during the fourth quarter. Wasatch Advisors LP now owns 3,765,442 shares of the industrial products company’s stock valued at $368,787,000 after purchasing an additional 56,914 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of Casella Waste Systems by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 2,804,475 shares of the industrial products company’s stock valued at $222,507,000 after purchasing an additional 27,148 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Casella Waste Systems by 12.5% during the fourth quarter. Invesco Ltd. now owns 2,703,855 shares of the industrial products company’s stock valued at $264,816,000 after purchasing an additional 300,102 shares during the period. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CWST shares. Barclays lifted their price objective 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. Zacks Research upgraded shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price target on shares of 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. UBS Group decreased their price objective on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Finally, TD Cowen reissued a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Casella Waste Systems 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.