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RUTLAND, VT—Sean Steves, the Senior Vice President and Chief Operating Officer of Solid Waste Operations at Casella Waste Systems Inc. (NASDAQ:CWST), a $6.8 billion market cap waste management company with 23% revenue growth in the last twelve months, executed a series of stock transactions involving the company’s Class A common stock. According to a recent SEC filing, Steves sold shares totaling $29,482 over two days. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 12 key investment insights available to subscribers.
On March 12, Steves sold 171 shares of Casella Waste Systems’ stock. The sales were made in two batches: 100 shares at $106.98 each and 71 shares at $106.18 each. The following day, March 13, he sold an additional 108 shares at an average price of $104.13, with the per-share price ranging from $104.11 to $104.15.
These transactions were described as "sell-to-cover" actions, executed to fulfill tax withholding obligations tied to the vesting of Restricted Stock Units (RSUs). As per the filing, these sales were conducted under automatic sell-to-cover instructions previously established by Steves, indicating they were not discretionary sales.
Additionally, Steves acquired 951 RSUs on March 12, which will vest in three equal annual installments starting in 2026. This acquisition did not involve any cash transaction, as RSUs represent a contingent right to receive shares of the company’s stock.
Following these transactions, Steves holds 7,435 shares of Casella Waste Systems’ Class A common stock, a company that has delivered strong returns over the past decade and operates with a moderate level of debt.
In other recent news, Casella Waste Systems reported its financial results for the fourth quarter of 2024, highlighting significant developments. The company achieved a revenue of $427.5 million, surpassing analyst expectations of $418.58 million, which marks an 18.9% increase year-over-year. However, earnings per share (EPS) fell short, coming in at $0.08 compared to the projected $0.16. For the full fiscal year 2024, Casella Waste Systems experienced over 20% growth in revenue, adjusted EBITDA, and adjusted free cash flow, driven by strategic mergers and acquisitions totaling over $1.6 billion. Analysts from Stifel responded positively to the company’s performance by raising the stock target to $129 and maintaining a Buy rating, reflecting confidence in Casella’s growth trajectory. Looking forward, the company projects a 15% revenue growth for 2025, with anticipated revenues between $1.775 billion and $1.805 billion. The company’s strategic initiatives, including technology upgrades and market expansion, are expected to support this growth. Casella Waste Systems remains focused on further acquisitions and market densification, with a robust pipeline of potential deals.
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