Insider Buying: Republic Services major shareholder Buys 746,431 Shares of Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc bought 746,431 shares of the company’s stock on the open market in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $37.89 per share, for a total transaction of $28,282,270.59. Following the completion of the transaction, the insider now directly owns 96,436,528 shares in the company, valued at approximately $3,653,980,046. The transaction 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 shares are required to disclose their transactions with the SEC.
Republic Services (NYSE:RSG) traded up 0.34% on Monday, hitting $37.91. 1,057,957 shares of the company’s stock traded hands. Republic Services has a one year low of $31.42 and a one year high of $38.39. The stock’s 50-day moving average is $37.4 and its 200-day moving average is $34.95. The company has a market cap of $15.686 billion and a price-to-earnings ratio of 18.96.
Republic Services (NYSE:RSG) last released its earnings data on Thursday, July 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter 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. Shareholders 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 a positive change from Republic Services’s previous quarterly dividend of $0.26.
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 issued a buy rating and one has assigned a strong buy rating to the company. Republic Services currently has an average rating of “Buy” and a consensus target price of $39.10.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.