Bradford John Helgeson, Executive Vice President and Chief Financial Officer of Casella Waste (NASDAQ:CWST) Systems Inc. (NASDAQ:CWST), recently sold shares of the company. According to a filing with the Securities and Exchange Commission, Helgeson sold 197 shares of Class A Common Stock on November 7, 2024, at a price of $106.68 per share, totaling $21,015.
This transaction was part of a "sell-to-cover" strategy to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs) previously granted to Helgeson. The sale was executed under an automatic sell-to-cover instruction adopted on November 16, 2023, and was not a discretionary sale by Helgeson.
Following this transaction, Helgeson retains ownership of 3,548 shares of the company.
In other recent news, Casella Waste Systems reported a 16.7% year-over-year increase in revenue to $411.6 million in its third-quarter earnings for 2024. This growth was attributed to acquisitions and organic growth, including the recent acquisition of Royal. Adjusted EBITDA also rose by 14.9% to $102.9 million. Despite these gains, the company experienced lower landfill volumes and increased expenses, which led to a decrease in adjusted net income to $15.9 million.
The company has also raised over $500 million in financing for future M&A activities, with a focus on smaller acquisitions while prioritizing recent integration efforts. Casella Waste Systems remains optimistic about 2025, projecting 12% to 15% growth in adjusted EBITDA and 10% to 15% growth in free cash flow, assuming no further acquisitions. These recent developments suggest a resilient business model and a positive outlook for the company.
InvestingPro Insights
Casella Waste Systems Inc. (NASDAQ:CWST) has been showing strong performance, as evidenced by both the recent insider transaction and key financial metrics. According to InvestingPro data, the company's revenue growth stands at an impressive 26.53% for the last twelve months as of Q3 2024, with quarterly revenue growth at 16.7% in Q3 2024. This aligns with one of the InvestingPro Tips, which indicates that analysts anticipate sales growth in the current year.
The company's stock is trading near its 52-week high, with a price that is 97.71% of its 52-week high value. This strength is further reflected in the stock's performance, with a 37.31% price total return over the past year. These metrics suggest that investors have been responding positively to Casella's business performance and growth prospects.
It's worth noting that Casella operates with a moderate level of debt and its liquid assets exceed short-term obligations, as highlighted by InvestingPro Tips. This financial stability could be reassuring for investors, especially in the context of the company's growth trajectory.
For those interested in a deeper analysis, InvestingPro offers 14 additional tips for Casella Waste Systems, providing a more comprehensive view of the company's financial health and market position.
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