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Kevin Drohan, Vice President and Chief Accounting Officer of Casella Waste Systems Inc. (NASDAQ:CWST), has reported a significant stock transaction. On March 3, Drohan sold 1,136 shares of the company’s Class A Common Stock at a price of $113.48 per share, totaling approximately $128,913. This transaction was part of a "sell-to-cover" arrangement to meet tax withholding obligations related to the vesting of performance-based stock units (PSUs) previously granted to Drohan. The transaction occurred as CWST trades near its 52-week high of $116.31, with the stock showing impressive momentum, delivering a 23% return over the past year. InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Earlier, on February 27, Drohan acquired 3,639 shares of Class A Common Stock through the vesting of PSUs. These shares were awarded based on the company’s performance objectives and relative total shareholder return. Following these transactions, Drohan now holds 5,398 shares directly in the $7.2 billion market cap company, which has demonstrated strong operational performance with 23.15% revenue growth in the last twelve months. For deeper insights into CWST’s valuation and growth prospects, including 12 additional exclusive tips, check out the comprehensive research report available on InvestingPro.
In other recent news, Casella Waste Systems reported its financial results for the fourth quarter of 2024, revealing a strong revenue performance but a miss on earnings per share (EPS). The company posted a revenue of $427.5 million, surpassing expectations of $418.58 million, marking an 18.9% increase year-over-year. However, the EPS came in at $0.08, falling short of the anticipated $0.16. For the full fiscal year 2024, Casella Waste demonstrated over 20% growth in revenue, adjusted EBITDA, and adjusted free cash flow, driven by strategic investments in mergers and acquisitions. Looking ahead to fiscal year 2025, the company projects a 15% revenue growth, with anticipated revenues between $1.775 and $1.805 billion. Stifel analysts recently raised the price target for Casella Waste to $129, maintaining a Buy rating, reflecting confidence in the company’s growth trajectory. The firm highlighted Casella’s resilience in maintaining margin expansion despite challenges. These developments underscore Casella Waste’s strategic initiatives and robust market position.
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