Michael Burke Sells 2,305 Shares of Casella Waste Systems (NASDAQ:CWST) Stock

Casella Waste Systems, Inc. (NASDAQ:CWST) Director Michael Burke sold 2,305 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the sale, the director owned 14,048 shares of the company’s stock, valued at $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Casella Waste Systems Trading Down 2.3%

Shares of NASDAQ:CWST opened at $84.22 on Friday. Casella Waste Systems, Inc. has a 52-week low of $74.05 and a 52-week high of $118.91. The company has a market capitalization of $5.36 billion, a P/E ratio of 765.71 and a beta of 0.77. The company has a 50-day simple moving average of $83.03 and a 200 day simple moving average of $92.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The business had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. During the same period last year, the business posted $0.19 EPS. Casella Waste Systems’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Alpine Woods Capital Investors LLC bought a new position in shares of Casella Waste Systems during the first quarter worth approximately $270,000. Argent Capital Management LLC increased its holdings in shares of Casella Waste Systems by 1,054.4% during the first quarter. Argent Capital Management LLC now owns 73,097 shares of the industrial products company’s stock worth $5,800,000 after purchasing an additional 66,765 shares during the period. Edgestream Partners L.P. bought a new position in shares of Casella Waste Systems during the first quarter worth approximately $223,000. Amundi bought a new position in shares of Casella Waste Systems during the first quarter worth approximately $374,000. Finally, California State Teachers Retirement System increased its holdings in shares of Casella Waste Systems by 26.2% during the first quarter. California State Teachers Retirement System now owns 74,027 shares of the industrial products company’s stock worth $5,873,000 after purchasing an additional 15,380 shares during the period. 99.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CWST. Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. Raymond James Financial reissued a “strong-buy” rating and issued a $115.00 price target on shares of Casella Waste Systems in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price target on shares of Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. UBS Group lowered their price target on shares of Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Barclays raised shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $101.00 to $102.00 in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Casella Waste Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.13.

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.