Republic Services (NYSE:RSG) Major Shareholder Buys $25,028,769.35 in Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. purchased 119,795 shares of Republic Services stock in a transaction on Friday, May 15th. The stock was bought at an average price of $208.93 per share, for a total transaction of $25,028,769.35. Following the transaction, the insider directly owned 110,743,282 shares in the company, valued at approximately $23,137,593,908.26. The trade was a 0.11% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% 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 price of $213.31 per share, for a total transaction of $12,947,917.00.
• On Thursday, May 14th, Cascade Investment, L.L.C. bought 307,505 shares of Republic Services stock. The shares were acquired at an average price of $207.68 per share, for a total transaction of $63,862,638.40.
• On Monday, May 11th, Cascade Investment, L.L.C. bought 78,150 shares of Republic Services stock. The shares were acquired at an average price of $197.18 per share, for a total transaction of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock. The stock was purchased at an average price of $202.24 per share, for a total transaction of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. purchased 55,000 shares of Republic Services stock. The stock was purchased at an average price of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Stock Down 1.3%

Shares of NYSE:RSG opened at $212.21 on Thursday. The business’s 50 day simple moving average is $213.63 and its two-hundred day simple moving average is $214.87. The firm has a market cap of $65.29 billion, a P/E ratio of 30.45, a PEG ratio of 3.54 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75.

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

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.

Analyst Ratings Changes

RSG has been the subject of a number of research analyst reports. UBS Group decreased their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company raised their target price on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $245.15.

Institutional Investors Weigh In On Republic Services

Several large investors have recently added to or reduced their stakes in the business. Kensington Investment Counsel LLC raised its position in Republic Services by 0.6% during the first quarter. Kensington Investment Counsel LLC now owns 27,570 shares of the business services provider’s stock valued at $6,038,000 after purchasing an additional 154 shares in the last quarter. Kentucky Retirement Systems raised its position in Republic Services by 75.3% during the first quarter. Kentucky Retirement Systems now owns 22,297 shares of the business services provider’s stock valued at $4,883,000 after purchasing an additional 9,579 shares in the last quarter. Oddo BHF Asset Management Sas increased its holdings in shares of Republic Services by 3.2% in the first quarter. Oddo BHF Asset Management Sas now owns 56,463 shares of the business services provider’s stock worth $12,364,000 after buying an additional 1,761 shares during the period. Strategic Investment Advisors MI increased its holdings in shares of Republic Services by 15.0% in the first quarter. Strategic Investment Advisors MI now owns 1,400 shares of the business services provider’s stock worth $306,000 after buying an additional 183 shares during the period. Finally, Amundi increased its holdings in shares of Republic Services by 9.3% in the first quarter. Amundi now owns 1,363,858 shares of the business services provider’s stock worth $298,713,000 after buying an additional 116,314 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

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.