Republic Services major shareholder Acquires $2,348,464 in Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc acquired 59,803 shares of Republic Services stock in a transaction that occurred on Friday, August 29th. The shares were purchased at an average price of $39.27 per share, with a total value of $2,348,463.81. Following the completion of the transaction, the insider now directly owns 102,139,744 shares of the company’s stock, valued at approximately $4,011,027,747. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Republic Services (NYSE:RSG) traded down 0.08% during mid-day trading on Wednesday, hitting $39.14. 1,886,736 shares of the company’s stock traded hands. Republic Services has a 52-week low of $31.42 and a 52-week high of $39.66. The stock has a 50-day moving average of $38.28 and a 200-day moving average of $35.97. The company has a market cap of $13.922 billion and a P/E ratio of 19.65.
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 2.86%. 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.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus 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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