Insider Selling: Casella Waste Systems Inc. (NASDAQ:CWST) Director Sells 10,000 Shares of Stock

Casella Waste Systems Inc. (NASDAQ:CWST) Director Michael K. Burke sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $45.80, for a total transaction of $458,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NASDAQ:CWST traded down $0.05 during mid-day trading on Monday, hitting $45.50. The company had a trading volume of 211,742 shares, compared to its average volume of 291,303. The firm has a fifty day moving average price of $42.77 and a 200 day moving average price of $37.78. The company has a market capitalization of $2.15 billion, a PE ratio of 74.59 and a beta of 0.80. The company has a debt-to-equity ratio of 5.71, a current ratio of 0.88 and a quick ratio of 0.82. Casella Waste Systems Inc. has a one year low of $24.61 and a one year high of $47.72.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $187.46 million during the quarter, compared to analyst estimates of $184.08 million. Casella Waste Systems had a net margin of 2.69% and a return on equity of 76.51%. Casella Waste Systems’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. Research analysts expect that Casella Waste Systems Inc. will post 0.83 earnings per share for the current fiscal year.

A number of brokerages have issued reports on CWST. Stifel Nicolaus upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $40.00 in a research note on Wednesday, May 1st. BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Raymond James raised their price target on shares of Casella Waste Systems from $43.00 to $52.00 and gave the stock a “strong-buy” rating in a report on Monday, August 5th. TheStreet upgraded shares of Casella Waste Systems from a “c” rating to a “b-” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.25.

Several large investors have recently added to or reduced their stakes in CWST. Wells Fargo & Company MN increased its stake in shares of Casella Waste Systems by 95.6% in the 1st quarter. Wells Fargo & Company MN now owns 2,613,176 shares of the industrial products company’s stock valued at $92,924,000 after acquiring an additional 1,276,940 shares in the last quarter. Invesco Ltd. increased its stake in shares of Casella Waste Systems by 116.2% in the 2nd quarter. Invesco Ltd. now owns 1,674,960 shares of the industrial products company’s stock valued at $66,378,000 after acquiring an additional 900,264 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Casella Waste Systems in the 1st quarter valued at $27,427,000. Oak Ridge Investments LLC bought a new stake in shares of Casella Waste Systems in the 1st quarter valued at $13,817,000. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Casella Waste Systems by 31.5% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 1,477,530 shares of the industrial products company’s stock valued at $58,554,000 after acquiring an additional 353,885 shares in the last quarter. Institutional investors own 86.41% of the company’s stock.

Casella Waste Systems Company Profile

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, Western, 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.

Featured Story: What is an overbought condition?

Insider Buying and Selling by Quarter for Casella Waste Systems (NASDAQ:CWST)

Receive News & Ratings for Casella Waste Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casella Waste Systems and related companies with MarketBeat.com's FREE daily email newsletter.