Republic Services major shareholder Cascade Investment Llc Buys 501,900 Shares (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc purchased 501,900 shares of Republic Services stock on the open market in a transaction dated Wednesday, August 27th. The stock was purchased at an average cost of $39.35 per share, for a total transaction of $19,749,765.00. Following the purchase, the insider now directly owns 102,038,860 shares in the company, valued at approximately $4,015,229,141. The purchase 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 transactions with the SEC.
Shares of Republic Services (NYSE:RSG) traded up 0.20% on Friday, hitting $39.33. 1,017,340 shares of the company’s stock traded hands. Republic Services has a one year low of $31.42 and a one year high of $39.66. The stock has a 50-day moving average of $38.10 and a 200-day moving average of $35.8. The company has a market cap of $13.990 billion and a price-to-earnings ratio of 19.69.
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 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 2.85%. 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.
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 given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $39.10.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.