Insider Selling: Casella Waste Systems Inc. (NASDAQ:CWST) COO Sells 5,602 Shares of Stock

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Casella Waste Systems Inc. (NASDAQ:CWST) COO Edwin D. Johnson sold 5,602 shares of Casella Waste Systems stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $46.75, for a total transaction of $261,893.50. Following the completion of the sale, the chief operating officer now owns 344,446 shares in the company, valued at $16,102,850.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of CWST opened at $45.03 on Thursday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 73.82 and a beta of 0.80. Casella Waste Systems Inc. has a 1-year low of $24.61 and a 1-year high of $47.72. The stock’s fifty day moving average price is $42.50. The company has a debt-to-equity ratio of 5.71, a quick ratio of 0.82 and a current ratio of 0.88.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $187.46 million for the quarter, compared to the consensus estimate of $184.08 million. Casella Waste Systems had a net margin of 2.69% and a return on equity of 76.51%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. On average, analysts predict that Casella Waste Systems Inc. will post 0.83 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of Casella Waste Systems by 34.5% in the second quarter. Wells Fargo & Company MN now owns 3,515,038 shares of the industrial products company’s stock valued at $139,301,000 after purchasing an additional 901,862 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Casella Waste Systems by 1.5% in the second quarter. Earnest Partners LLC now owns 2,281,869 shares of the industrial products company’s stock valued at $90,430,000 after purchasing an additional 33,545 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Casella Waste Systems by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,177,365 shares of the industrial products company’s stock valued at $86,290,000 after purchasing an additional 109,826 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Casella Waste Systems by 116.2% in the second quarter. Invesco Ltd. now owns 1,674,960 shares of the industrial products company’s stock valued at $66,378,000 after purchasing an additional 900,264 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Casella Waste Systems by 31.5% in the second 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 purchasing an additional 353,885 shares during the last quarter. Institutional investors and hedge funds own 91.01% of the company’s stock.

A number of analysts have recently issued reports on CWST shares. TheStreet upgraded shares of Casella Waste Systems from a “c” rating to a “b-” rating in a report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group boosted their target price on shares of Casella Waste Systems from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, ValuEngine downgraded shares of Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. 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 stock. The company currently has a consensus rating of “Buy” and an average target price of $44.25.

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.

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