Republic Services (NYSE:RSG) Major Shareholder Acquires $63,862,638.40 in Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. purchased 307,505 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $207.68 per share, with a total value of $63,862,638.40. Following the completion of the acquisition, the insider directly owned 110,623,487 shares of the company’s stock, valued at approximately $22,974,285,780.16. This represents a 0.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cascade Investment, L.L.C. also recently made the following trade(s):

• On Monday, May 18th, Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock. The stock was acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00.
• On Friday, May 15th, Cascade Investment, L.L.C. acquired 119,795 shares of Republic Services stock. The stock was acquired at an average cost of $208.93 per share, for a total transaction of $25,028,769.35.
• On Monday, May 11th, Cascade Investment, L.L.C. acquired 78,150 shares of Republic Services stock. The stock was acquired at an average cost of $197.18 per share, for a total transaction of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock. The shares were purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. purchased 55,000 shares of Republic Services stock. The shares were purchased at an average cost of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Stock Performance

Shares of RSG opened at $212.21 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $65.29 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. The firm’s fifty day simple moving average is $213.63 and its two-hundred day simple moving average is $214.87. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $258.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 36.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Laurel Wealth Advisors LLC bought a new position in Republic Services in the 4th quarter valued at $25,000. Wealth Watch Advisors INC bought a new position in Republic Services in the 3rd quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 67 shares during the period. Ameriflex Group Inc. bought a new position in Republic Services in the 3rd quarter valued at $29,000. Finally, Prosperity Bancshares Inc bought a new position in Republic Services in the 4th quarter valued at $30,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RSG shares. Wells Fargo & Company increased their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Morgan Stanley decreased their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, Oppenheimer decreased their price objective on shares of Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $245.15.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.