Cascade Investment, L.L.C. Buys 60,700 Shares of Republic Services (NYSE:RSG) Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, May 15th, Cascade Investment, L.L.C. bought 119,795 shares of Republic Services stock. The stock was acquired at an average cost of $208.93 per share, for a total transaction of $25,028,769.35.
• On Thursday, May 14th, Cascade Investment, L.L.C. bought 307,505 shares of Republic Services stock. The stock was acquired at an average cost 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 stock was acquired at an average cost of $197.18 per share, for a total transaction of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. acquired 366,000 shares of Republic Services stock. The stock was purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. acquired 55,000 shares of Republic Services stock. The stock was purchased at an average cost of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Stock Performance

Shares of RSG opened at $214.94 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $66.13 billion, a P/E ratio of 30.84, a P/E/G ratio of 3.53 and a beta of 0.43. The company’s fifty day moving average is $214.00 and its two-hundred day moving average is $214.86. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75.

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

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s payout ratio is currently 36.15%.

Institutional Investors Weigh In On Republic Services

Several institutional investors and hedge funds have recently made changes to their positions in RSG. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services in the 4th quarter worth about $25,000. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services in the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after buying an additional 67 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Republic Services in the 3rd quarter worth about $29,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Republic Services in the 4th quarter worth about $30,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

More Republic Services News

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Wells Fargo & Company boosted their target price on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Finally, UBS Group decreased their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $245.15.

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.