Insider Buying: Republic Services major shareholder Buys 376,092 Shares of Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc purchased 376,092 shares of Republic Services stock on the open market in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $39.35 per share, for a total transaction of $14,799,220.20. Following the completion of the purchase, the insider now directly owns 100,863,098 shares of the company’s stock, valued at approximately $3,968,962,906. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Republic Services (NYSE:RSG) traded up 0.15% during mid-day trading on Tuesday, hitting $39.37. The stock had a trading volume of 1,447,167 shares. Republic Services has a 1-year low of $31.42 and a 1-year high of $39.62. The stock’s 50-day moving average is $37.99 and its 200-day moving average is $35.75. The company has a market cap of $14.004 billion and a price-to-earnings ratio of 19.72.
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 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 2.84%. The ex-dividend date is Monday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.26.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus 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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