Insider Buying: Cascade Investment Llc Purchases 41,081 Shares of Republic Services Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc bought 41,081 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were purchased at an average cost of $39.26 per share, for a total transaction of $1,612,840.06. Following the transaction, the insider now directly owns 102,079,941 shares in the company, valued at approximately $4,007,658,484. The purchase was disclosed in a legal filing with the SEC, 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.
Republic Services (NYSE:RSG) traded down 0.41% on Tuesday, hitting $39.17. The stock had a trading volume of 1,366,636 shares. Republic Services has a 52-week low of $31.42 and a 52-week high of $39.66. The stock’s 50-day moving average is $38.19 and its 200-day moving average is $35.89. The company has a market cap of $13.933 billion and a P/E ratio of 19.73.
Republic Services (NYSE:RSG) last posted its quarterly earnings results 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. 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. 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 2.86%. 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 KeyCorp downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $39.00 price target on the stock. Separately, 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. Finally, 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. Five 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 an average rating of “Hold” and a consensus target price of $39.08.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
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