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Douglas R. Casella, Vice Chairman of the Board of Directors at Casella Waste Systems Inc. (NASDAQ:CWST), a $6.8 billion market cap waste management company, recently executed a series of stock transactions involving the company’s Class A Common Stock. On March 12, Casella sold 272 shares at a price of $107.26 each and 224 shares at $106.33 each. The following day, he sold an additional 200 shares at $103.93 per share. According to InvestingPro data, CWST has demonstrated strong returns over the past decade and maintains healthy liquidity with current assets exceeding short-term obligations. These sales, conducted as part of a "sell-to-cover" transaction to satisfy tax withholding obligations related to the vesting of Restricted Stock Units (RSUs), totaled approximately $73,777.
The transactions did not represent discretionary sales by Casella, as they were carried out under an automatic sell-to-cover instruction established in advance. Following these transactions, Casella retains direct ownership of 108,748 shares of Class A Common Stock.
In other recent news, Casella Waste Systems reported a notable 18.9% increase in revenue for the fourth quarter of 2024, amounting to $427.5 million, surpassing expectations. However, the company’s earnings per share (EPS) fell short of forecasts, coming in at $0.08 against the anticipated $0.16. The company also achieved over 20% growth in adjusted EBITDA and adjusted free cash flow for the full year 2024. Looking ahead, Casella projects a 15% revenue growth for 2025, with expected revenues between $1.775 and $1.805 billion. Stifel analysts recently raised the price target for Casella Waste Systems shares to $129, maintaining a Buy rating, reflecting confidence in the company’s growth trajectory. This optimism is bolstered by Casella’s strategic mergers and acquisitions, which have contributed significantly to its financial performance. The company’s organic growth rate was reported at 6.1%, with a 200 basis point expansion in margins despite acquisition-related challenges.
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