Republic Services major shareholder Cascade Investment Llc Acquires 80,878 Shares (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc acquired 80,878 shares of Republic Services stock on the open market in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $38.22 per share, with a total value of $3,091,157.16. Following the completion of the purchase, the insider now directly owns 98,301,924 shares of the company’s stock, valued at approximately $3,757,099,535. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major 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 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $39.10.
Republic Services (NYSE:RSG) traded down 0.59% during mid-day trading on Monday, hitting $38.48. 1,484,520 shares of the company’s stock traded hands. Republic Services has a 1-year low of $31.42 and a 1-year high of $38.76. The stock has a 50-day moving average of $37.57 and a 200-day moving average of $35.14. The company has a market cap of $15.922 billion and a P/E ratio of 19.42.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.43 earnings per share. Republic Services’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Republic Services will post $1.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change 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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