Insider Buying: Cascade Investment Llc Purchases 101,595 Shares of Republic Services Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc bought 101,595 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $38.49 per share, for a total transaction of $3,910,391.55. Following the purchase, the insider now directly owns 98,452,519 shares in the company, valued at approximately $3,789,437,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Republic Services (NYSE:RSG) traded up 0.54% on Wednesday, hitting $38.86. 1,319,412 shares of the company’s stock traded hands. Republic Services has a 52 week low of $31.42 and a 52 week high of $38.88. The stock has a 50-day moving average of $37.64 and a 200-day moving average of $35.28. The company has a market cap of $16.079 billion and a price-to-earnings ratio of 19.39.
Republic Services (NYSE:RSG) last posted its quarterly earnings results 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 2.90%. The ex-dividend date is Monday, September 29th. This is a positive change from Republic Services’s previous quarterly dividend of $0.26.
A number of analysts have recently weighed in on RSG shares. 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 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 company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.10.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
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