Insider Buying: Republic Services Director Acquires 30,000 Shares of Stock (RSG)
Republic Services (NYSE:RSG) Director Wallace Lee Nutter acquired 30,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $38.04 per share, for a total transaction of $1,141,200.00. Following the acquisition, the director now directly owns 30,332 shares of the company’s stock, valued at approximately $1,153,829. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
RSG has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Republic Services in a research note on Monday, July 28th. They now have a $39.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Republic Services from $41.00 to $43.50 in a research note on Friday, July 25th. They now have an “outperform” rating on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Republic Services has an average rating of “Buy” and a consensus price target of $39.10.
Shares of Republic Services (NYSE:RSG) traded up 0.34% during mid-day trading on Monday, hitting $37.91. The stock had a trading volume of 1,057,957 shares. Republic Services has a 1-year low of $31.42 and a 1-year high of $38.39. The stock has a 50-day moving average of $37.4 and a 200-day moving average of $34.95. The company has a market cap of $15.686 billion and a P/E ratio of 18.96.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 24th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.02. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Republic Services will post $1.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.26.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
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