Republic Services major shareholder Acquires $2,705,994 in Stock (RSG)
Republic Services (NYSE:RSG) major shareholder Cascade Investment Llc acquired 69,207 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was purchased at an average price of $39.10 per share, for a total transaction of $2,705,993.70. Following the completion of the transaction, the insider now directly owns 102,208,951 shares in the company, valued at approximately $3,996,369,984. The acquisition was disclosed in a 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.
A number of analysts have recently weighed in on RSG shares. 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 assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.08.
Shares of Republic Services (NYSE:RSG) traded down 0.05% on Thursday, hitting $39.12. 1,418,782 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 $38.34 and a 200-day moving average of $36.00. The company has a market cap of $13.915 billion and a price-to-earnings ratio of 19.64.
Republic Services (NYSE:RSG) last posted its quarterly earnings results 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. 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. 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 positive change from Republic Services’s previous quarterly dividend of $0.26.
Republic Services, Inc (NYSE:RSG) is a provider of services in the domestic non-hazardous solid waste industry.
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