John W. Casella Sells 724 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) Stock

Posted by Defense World Staff on Aug 6th, 2023

Casella Waste Systems, Inc. (NASDAQ:CWST – Get Free Report) CEO John W. Casella sold 724 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $80.69, for a total value of $58,419.56. Following the completion of the sale, the chief executive officer now owns 11,299 shares in the company, valued at approximately $911,716.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Casella Waste Systems Stock Performance

CWST opened at $81.23 on Friday. The firm has a market cap of $4.71 billion, a P/E ratio of 105.49, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. Casella Waste Systems, Inc. has a 52-week low of $70.07 and a 52-week high of $95.78. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.20 and a current ratio of 2.87. The business’s fifty day moving average is $87.36 and its 200-day moving average is $84.75.

Casella Waste Systems (NASDAQ:CWST – Get Free Report) last released its earnings results on Friday, July 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $289.65 million for the quarter, compared to analyst estimates of $301.93 million. Casella Waste Systems had a return on equity of 9.08% and a net margin of 3.58%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Sell-side analysts expect that Casella Waste Systems, Inc. will post 1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Casella Waste Systems in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James lowered their price objective on Casella Waste Systems from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 31st. Bank of America increased their price objective on Casella Waste Systems from $79.00 to $89.00 in a research report on Monday, May 1st. UBS Group increased their price objective on Casella Waste Systems from $105.00 to $110.00 in a research report on Thursday, June 15th. Finally, Stifel Nicolaus increased their price objective on Casella Waste Systems from $94.00 to $103.00 in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.40.

Institutional Trading of Casella Waste Systems

Several large investors have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of Casella Waste Systems by 34.1% during the 1st quarter. Signaturefd LLC now owns 448 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 114 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Casella Waste Systems by 1.2% in the first quarter. CIBC Private Wealth Group LLC now owns 10,299 shares of the industrial products company’s stock valued at $851,000 after buying an additional 121 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in Casella Waste Systems by 0.4% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 28,736 shares of the industrial products company’s stock valued at $2,375,000 after buying an additional 122 shares in the last quarter. Allworth Financial LP boosted its stake in Casella Waste Systems by 10.1% in the second quarter. Allworth Financial LP now owns 1,363 shares of the industrial products company’s stock valued at $123,000 after buying an additional 125 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in Casella Waste Systems by 1.1% in the second quarter. First Republic Investment Management Inc. now owns 11,951 shares of the industrial products company’s stock valued at $869,000 after buying an additional 131 shares in the last quarter. 96.69% of the stock is owned by institutional investors and hedge funds.

About Casella Waste Systems

(Get Free Report)

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.