Insider Buying: Cascade Investment Llc Buys 364,184 Shares of Republic Services Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc bought 364,184 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $39.00 per share, with a total value of $14,203,176.00. Following the purchase, the insider now directly owns 99,751,044 shares of the company’s stock, valued at approximately $3,890,290,716. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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.
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 research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Republic Services has an average rating of “Buy” and an average price target of $39.10.
Republic Services (NYSE:RSG) traded down 0.83% during mid-day trading on Friday, hitting $39.22. 396,568 shares of the company’s stock traded hands. Republic Services has a 52 week low of $31.42 and a 52 week high of $39.61. The stock has a 50-day moving average of $37.91 and a 200-day moving average of $35.58. The company has a market cap of $13.950 billion and a P/E ratio of 19.84.
Republic Services (NYSE:RSG) last released its 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. 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. 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 2.83%. The ex-dividend date 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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