Michael Burke Sells 1,100 Shares of Casella Waste Systems (NASDAQ:CWST) Stock

Casella Waste Systems, Inc. (NASDAQ:CWST) Director Michael Burke sold 1,100 shares of Casella Waste Systems stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $92.99, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Casella Waste Systems Stock Performance

Casella Waste Systems stock opened at $93.00 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. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $107.96. The company has a market cap of $5.92 billion, a PE ratio of 1,033.45 and a beta of 0.74. The company’s 50-day moving average is $92.69 and its two-hundred day moving average is $89.19.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $543.75 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. Equities analysts anticipate that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On Casella Waste Systems

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in Casella Waste Systems by 9,321.4% during the 2nd quarter. California State Teachers Retirement System now owns 6,974,373 shares of the industrial products company’s stock worth $676,305,000 after purchasing an additional 6,900,346 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 581,310 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Casella Waste Systems by 1.5% in 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 buying an additional 56,914 shares during the period. Conestoga Capital Advisors LLC increased its position 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 worth $222,507,000 after acquiring an additional 27,148 shares in the last quarter. Finally, Invesco Ltd. raised its holdings 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 worth $264,816,000 after acquiring an additional 300,102 shares during the period. Institutional investors own 99.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CWST. Zacks Research upgraded shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Barclays upped their price objective on Casella Waste Systems from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 10th. JPMorgan Chase & Co. decreased their target price on Casella Waste Systems from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. Finally, UBS Group cut their price target on shares of 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 given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.