Republic Services Hits New 12-Month High Following Insider Buying Activity (RSG)
Republic Services (NYSE:RSG) shares reached a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company, Analyst Ratings News reports. The company traded as high as $39.32 and last traded at $39.00, with a volume of 880,272 shares. The stock had previously closed at $39.07.
Specifically, major shareholder Cascade Investment Llc bought 100,000 shares of Republic Services stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $38.91 per share, for a total transaction of $3,891,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares 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 research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Republic Services has a consensus rating of “Buy” and an average target price of $39.10.
The stock has a 50-day moving average of $37.76 and a 200-day moving average of $35.38. The company has a market cap of $16.139 billion and a P/E ratio of 19.60.
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. Analysts expect that Republic Services will post $1.97 EPS 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 2.87%. 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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