Republic Services major shareholder Purchases $1,249,030 in Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc purchased 31,621 shares of Republic Services stock on the open market in a transaction dated Thursday, August 21st. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $1,249,029.50. Following the transaction, the insider now directly owns 100,487,006 shares in the company, valued at approximately $3,969,236,737. The purchase 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 shares are required to disclose their sales and purchases with the SEC.
Republic Services (NYSE:RSG) traded down 0.08% on Monday, hitting $39.31. 1,506,207 shares of the company’s stock traded hands. Republic Services has a 52-week low of $31.42 and a 52-week high of $39.62. The stock has a 50-day moving average of $37.95 and a 200-day moving average of $35.64. The company has a market cap of $13.982 billion and a price-to-earnings ratio of 19.74.
Republic Services (NYSE:RSG) last announced its 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. Analysts expect 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. Shareholders 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 2.85%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from Republic Services’s previous quarterly dividend of $0.26.
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 investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target 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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