Insider Buying: Republic Services (NYSE:RSG) Major Shareholder Buys $11,097,900.00 in Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. acquired 55,000 shares of Republic Services stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $201.78 per share, with a total value of $11,097,900.00. Following the purchase, the insider owned 109,949,982 shares of the company’s stock, valued at $22,185,707,367.96. The trade was a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 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 11th, Cascade Investment, L.L.C. acquired 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 stock was bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00.

Republic Services Trading Down 0.3%

NYSE:RSG opened at $208.12 on Friday. The firm has a market cap of $64.03 billion, a P/E ratio of 29.86, a PEG ratio of 3.43 and a beta of 0.43. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.11. The stock’s 50 day simple moving average is $214.67 and its 200-day simple moving average is $214.89. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75.

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

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 35.87%.

Institutional Investors Weigh In On Republic Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new stake in Republic Services during the third quarter worth about $26,000. Laurel Wealth Advisors LLC acquired a new stake in Republic Services during the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Republic Services in the third quarter valued at about $29,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Republic Services in the fourth quarter valued at about $30,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RSG has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Scotiabank decreased their target price on Republic Services from $246.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 21st. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. BMO Capital Markets reduced their price objective on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Republic Services presently has an average rating of “Hold” and a consensus target price of $245.15.

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.