Insider Buying: Republic Services major shareholder Purchases 221,382 Shares of Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc bought 221,382 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average cost of $36.64 per share, with a total value of $8,111,436.48. Following the transaction, the insider now directly owns 89,856,142 shares in the company, valued at approximately $3,292,329,043. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on RSG. Analysts at Raymond James upgraded shares of Republic Services from a “market perform” rating to a “strong-buy” rating in a research note on Tuesday, June 10th. They now have a $42.00 price target on the stock. Separately, analysts at Imperial Capital initiated coverage on shares of Republic Services in a research note on Thursday, June 5th. They set an “outperform” rating and a $41.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Republic Services in a research note on Tuesday, May 6th. They now have a $37.00 price target on the stock. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.20.
Shares of Republic Services (NYSE:RSG) traded down 0.11% during mid-day trading on Monday, hitting $36.67. The stock had a trading volume of 1,418,884 shares. Republic Services has a one year low of $31.42 and a one year high of $36.91. The stock has a 50-day moving average of $35.27 and a 200-day moving average of $34.03. The company has a market cap of $13.068 billion and a price-to-earnings ratio of 22.25.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.01. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that Republic Services will post $1.96 earnings per share for the current fiscal year.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
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