Insider Buying: Republic Services major shareholder Buys 75,000 Shares of Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc bought 75,000 shares of Republic Services stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $38.61 per share, with a total value of $2,895,750.00. Following the completion of the transaction, the insider now directly owns 98,527,519 shares of the company’s stock, valued at approximately $3,804,147,509. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Republic Services (NYSE:RSG) traded up 0.28% during mid-day trading on Thursday, hitting $38.97. The stock had a trading volume of 1,319,373 shares. Republic Services has a 52 week low of $31.42 and a 52 week high of $39.01. The stock’s 50-day moving average is $37.68 and its 200-day moving average is $35.30. The company has a market cap of $16.124 billion and a P/E ratio of 19.50.
Republic Services (NYSE:RSG) last issued its quarterly earnings data 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. Analysts expect that Republic Services will post $1.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors 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 2.88%. The ex-dividend date of this dividend is Monday, September 29th. This is an increase 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 equities research 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 currently has a consensus 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.
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