Michael K. Burke, a director at Casella Waste (NASDAQ:CWST) Systems Inc. (NASDAQ:CWST), recently sold 1,800 shares of the company's Class A common stock. The shares were sold at a weighted average price of $112.88, yielding a total transaction value of $203,184. Following this sale, Burke now holds 15,138 shares in the company. The sale was executed on November 25, 2024, according to a filing with the Securities and Exchange Commission. The transaction involved multiple sales with prices ranging from $112.70 to $112.92.
In other recent news, Casella Waste Systems reported a notable revenue increase of 16.7% year-over-year to $411.6 million in its third-quarter earnings for 2024, bolstered by acquisitions and organic growth. Adjusted EBITDA also grew by 14.9% to $102.9 million. However, the company experienced lower landfill volumes and increased expenses, resulting in a decrease in adjusted net income to $15.9 million.
The company's acquisition of Royal has contributed to growth expectations. Despite the decline in landfill volumes, the average price per ton increased by 7.1%, and solid waste revenue saw a 17.3% boost due to price hikes. Casella also raised over $500 million in financing for future mergers and acquisitions activities.
In terms of future expectations, Casella is optimistic about 2025, anticipating a 12% to 15% growth in adjusted EBITDA and a 10% to 15% growth in free cash flow. The company plans to focus on smaller acquisitions while prioritizing recent integration efforts. These recent developments highlight Casella Waste Systems' resilience and strategic approach to navigating the complex market landscape.
InvestingPro Insights
Following Michael K. Burke's recent sale of Casella Waste Systems Inc. (NASDAQ:CWST) shares, investors might be interested in additional context provided by InvestingPro data. The company's market capitalization stands at $7.13 billion, reflecting its substantial presence in the waste management sector. Notably, CWST has demonstrated strong financial performance, with revenue growth of 26.53% over the last twelve months as of Q3 2024, reaching $1.49 billion.
InvestingPro Tips highlight that analysts anticipate sales growth in the current year, which aligns with the company's recent revenue trajectory. Additionally, CWST is trading near its 52-week high, with a robust 40.93% price total return over the past year. This performance suggests investor confidence in the company's prospects, despite the director's recent share sale.
It's worth noting that CWST operates with a moderate level of debt and its liquid assets exceed short-term obligations, indicating a solid financial position. However, the stock's high valuation multiples, including a P/E ratio of 963.9, suggest investors are pricing in significant future growth expectations.
For readers seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for CWST, providing deeper insights into the company's financial health and market position.
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