Insider Selling: Casella Waste Systems (NASDAQ:CWST) Director Sells $104,786.00 in Stock

Casella Waste Systems, Inc. (NASDAQ:CWST) Director Michael Burke sold 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total transaction of $104,786.00. Following the sale, the director owned 13,641 shares of the company’s stock, valued at approximately $1,299,441.66. This represents a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Casella Waste Systems Stock Down 2.5%

Casella Waste Systems stock opened at $93.53 on Friday. Casella Waste Systems, Inc. has a twelve month low of $74.05 and a twelve month high of $107.96. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $5.95 billion, a PE ratio of 1,039.34 and a beta of 0.74. The firm’s 50 day moving average price is $93.21 and its two-hundred day moving average price is $88.84.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $526.43 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, research analysts predict that Casella Waste Systems, Inc. will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Casella Waste Systems

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Casella Waste Systems by 41.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 98 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Casella Waste Systems by 3.9% in the 3rd quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 149 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in 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 worth $27,000 after purchasing an additional 184 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Casella Waste Systems by 46.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 211 shares during the period. Finally, Hilton Head Capital Partners LLC boosted its position in Casella Waste Systems by 86.5% during the first quarter. Hilton Head Capital Partners LLC now owns 468 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 217 shares during the period. 99.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CWST. Zacks Research upgraded Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Weiss Ratings raised Casella Waste Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. TD Cowen reissued a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Barclays increased their price objective on Casella Waste Systems from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, UBS Group cut their price objective 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

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.