Republic Services (NYSE:RSG) Major Shareholder Acquires $63,862,638.40 in Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. acquired 307,505 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $207.68 per share, with a total value of $63,862,638.40. Following the purchase, the insider owned 110,623,487 shares in the company, valued at approximately $22,974,285,780.16. The trade was a 0.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cascade Investment, L.L.C. also recently made the following trade(s):

• On Monday, May 18th, Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock. The shares were acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00.
• On Friday, May 15th, Cascade Investment, L.L.C. purchased 119,795 shares of Republic Services stock. The stock was bought at an average price of $208.93 per share, with a total value of $25,028,769.35.
• On Monday, May 11th, Cascade Investment, L.L.C. bought 78,150 shares of Republic Services stock. The stock was purchased at an average price of $197.18 per share, with a total value of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. bought 366,000 shares of Republic Services stock. The shares were acquired at an average price of $202.24 per share, with a total value of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. acquired 55,000 shares of Republic Services stock. The shares were acquired at an average price of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Stock Up 2.9%

RSG traded up $6.11 during trading on Monday, hitting $214.43. The company had a trading volume of 1,953,359 shares, compared to its average volume of 1,832,723. The business has a 50-day moving average of $214.67 and a 200-day moving average of $214.85. The company has a market cap of $65.97 billion, a PE ratio of 30.77, a P/E/G ratio of 3.43 and a beta of 0.43. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $258.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 EPS. As a group, analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s payout ratio is 35.87%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. UBS Group lowered their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. JPMorgan Chase & Co. raised their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Finally, Wells Fargo & Company raised their price objective on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $245.15.

Institutional Investors Weigh In On Republic Services

Several large investors have recently modified their holdings of the stock. Wealth Watch Advisors INC bought a new position in shares of Republic Services during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Republic Services by 121.8% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. Ameriflex Group Inc. bought a new position in Republic Services during the 3rd quarter valued at about $29,000. Finally, Prosperity Bancshares Inc acquired a new position in Republic Services in the fourth quarter valued at about $30,000. 57.73% of the stock is currently owned by institutional investors.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.