Insider Selling: Casella Waste Systems Inc. (CWST) Director Sells $315,000.00 in Stock
Casella Waste Systems Inc. (NASDAQ:CWST) Director James F. Callahan, Jr. sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $21.00, for a total transaction of $315,000.00. Following the completion of the sale, the director now directly owns 78,102 shares in the company, valued at $1,640,142. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Casella Waste Systems Inc. (NASDAQ CWST) opened at $21.46 on Friday. The company has a debt-to-equity ratio of -7.91, a quick ratio of 0.91 and a current ratio of 0.98. Casella Waste Systems Inc. has a 52-week low of $11.15 and a 52-week high of $21.86. The company has a market cap of $902.24, a PE ratio of 35.18 and a beta of 0.73.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The firm had revenue of $160.27 million for the quarter, compared to analysts’ expectations of $154.61 million. During the same period in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. sell-side analysts anticipate that Casella Waste Systems Inc. will post 0.64 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the business. California Public Employees Retirement System lifted its position in Casella Waste Systems by 15.7% during the 3rd quarter. California Public Employees Retirement System now owns 128,899 shares of the industrial products company’s stock worth $2,423,000 after buying an additional 17,499 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Casella Waste Systems during the 3rd quarter worth about $4,529,000. Allianz Asset Management GmbH lifted its position in Casella Waste Systems by 49.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 171,336 shares of the industrial products company’s stock worth $3,221,000 after buying an additional 56,527 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Casella Waste Systems by 171.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 637,775 shares of the industrial products company’s stock worth $11,990,000 after buying an additional 403,224 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Casella Waste Systems by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,033,357 shares of the industrial products company’s stock worth $38,227,000 after buying an additional 16,972 shares in the last quarter. 79.30% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on CWST. KeyCorp reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, November 3rd. BidaskClub raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research cut shares of Casella Waste Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Casella Waste Systems presently has an average rating of “Buy” and a consensus target price of $18.00.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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