Casella Waste Systems (NASDAQ:CWST) CEO Edmond Coletta Sells 12,500 Shares

Casella Waste Systems, Inc. (NASDAQ:CWST) CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the sale, the chief executive officer directly owned 140,118 shares of the company’s stock, valued at $12,548,968.08. The trade was a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Edmond Coletta also recently made the following trade(s):

• On Monday, March 16th, Edmond Coletta sold 988 shares of Casella Waste Systems stock. The shares were sold at an average price of $87.81, for a total value of $86,756.28.
• On Thursday, March 12th, Edmond Coletta sold 377 shares of Casella Waste Systems stock. The shares were sold at an average price of $89.80, for a total value of $33,854.60.
• On Friday, February 27th, Edmond Coletta sold 3,812 shares of Casella Waste Systems stock. The shares were sold at an average price of $93.70, for a total value of $357,184.40.

Casella Waste Systems Price Performance

CWST stock opened at $87.41 on Friday. The business has a 50 day moving average price of $83.24 and a 200 day moving average price of $92.79. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 794.71 and a beta of 0.77. Casella Waste Systems, Inc. has a fifty-two week low of $74.05 and a fifty-two week high of $118.91. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities research analysts anticipate that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Casella Waste Systems

Hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA raised its stake in shares of Casella Waste Systems by 10,865.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 990,651 shares of the industrial products company’s stock worth $97,040,000 after buying an additional 981,617 shares in the last quarter. State Street Corp grew its holdings in shares of Casella Waste Systems by 60.7% during the fourth quarter. State Street Corp now owns 2,306,780 shares of the industrial products company’s stock valued at $225,926,000 after buying an additional 871,761 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Casella Waste Systems by 1,106.7% during the second quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company’s stock valued at $100,067,000 after buying an additional 795,414 shares in the last quarter. UBS Group AG grew its holdings in shares of Casella Waste Systems by 653.2% during the fourth quarter. UBS Group AG now owns 841,897 shares of the industrial products company’s stock valued at $82,455,000 after buying an additional 730,128 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Casella Waste Systems by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company’s stock valued at $643,945,000 after buying an additional 581,310 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CWST. UBS Group decreased their target price on Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Raymond James Financial reiterated a “strong-buy” rating and set a $115.00 target price on shares of Casella Waste Systems in a research report on Monday, February 23rd. Weiss Ratings downgraded Casella Waste Systems from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 23rd. Barclays upgraded Casella Waste Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $101.00 to $102.00 in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their target price on Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.13.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.