Casella Waste Systems Inc. (NASDAQ:CWST) Vice Chairman Douglas R. Casella sold 34,492 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.15, for a total value of $1,177,901.80. Following the sale, the insider now directly owns 676,899 shares of the company’s stock, valued at approximately $23,116,100.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ CWST traded up $0.05 during midday trading on Thursday, hitting $34.21. 153,290 shares of the company traded hands, compared to its average volume of 310,818. The stock has a market capitalization of $1.60 billion, a PE ratio of 56.08 and a beta of 0.96. Casella Waste Systems Inc. has a 52 week low of $23.01 and a 52 week high of $36.00.
Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, February 21st. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $174.72 million for the quarter, compared to the consensus estimate of $172.12 million. Casella Waste Systems had a net margin of 0.97% and a negative return on equity of 114.82%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $0.11 EPS. As a group, analysts forecast that Casella Waste Systems Inc. will post 0.8 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in shares of Casella Waste Systems by 218.8% during the 4th quarter. Meeder Asset Management Inc. now owns 3,864 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,652 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of Casella Waste Systems during the 3rd quarter valued at $124,000. NEXT Financial Group Inc purchased a new stake in shares of Casella Waste Systems during the 4th quarter valued at $129,000. Acadian Asset Management LLC purchased a new stake in shares of Casella Waste Systems during the 3rd quarter valued at $152,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Casella Waste Systems by 133.5% during the 4th quarter. Advisory Services Network LLC now owns 6,616 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 3,783 shares during the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.
CWST has been the subject of a number of recent analyst reports. Stifel Nicolaus raised Casella Waste Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $32.00 in a research note on Thursday, December 27th. Zacks Investment Research downgraded Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Monday, January 21st. BidaskClub raised Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. KeyCorp assumed coverage on Casella Waste Systems in a research report on Monday, February 4th. They set a “sector weight” rating on the stock. Finally, ValuEngine cut Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. Casella Waste Systems presently has an average rating of “Buy” and a consensus target price of $32.75.
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About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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