Republic Services major shareholder Buys $15,592,000 in Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc purchased 400,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $38.98 per share, with a total value of $15,592,000.00. Following the transaction, the insider now directly owns 99,027,519 shares in the company, valued at approximately $3,860,092,691. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
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 equities research 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. Republic Services presently has an average rating of “Buy” and an average target price of $39.10.
Shares of Republic Services (NYSE:RSG) traded down 0.10% on Monday, hitting $39.03. The stock had a trading volume of 2,166,976 shares. Republic Services has a 1-year low of $31.42 and a 1-year high of $39.32. The stock has a 50-day moving average of $37.78 and a 200-day moving average of $35.45. The company has a market cap of $16.149 billion and a P/E ratio of 19.60.
Republic Services (NYSE:RSG) last issued its quarterly 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 declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders 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 2.87%. The ex-dividend date of this dividend is Monday, September 29th. This is a boost 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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