Insider Buying: Republic Services (NYSE:RSG) Major Shareholder Purchases $15,409,617.00 in Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. purchased 78,150 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $197.18 per share, with a total value of $15,409,617.00. Following the acquisition, the insider directly owned 109,894,982 shares of the company’s stock, valued at $21,669,092,550.76. This trade represents a 0.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, May 13th, Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock. The shares were bought at an average cost of $202.24 per share, with a total value of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. acquired 55,000 shares of Republic Services stock. The stock was acquired at an average price of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Price Performance

Shares of Republic Services stock opened at $208.12 on Friday. The stock’s 50-day simple moving average is $214.67 and its 200-day simple moving average is $214.89. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75. The company has a market capitalization of $64.03 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 3.43 and a beta of 0.43. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

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

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is presently 35.87%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research analyst reports. Citigroup decreased their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. UBS Group decreased their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $245.15.

Institutional Investors Weigh In On Republic Services

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.3% during the third quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider’s stock valued at $4,384,757,000 after buying an additional 49,365 shares during the last quarter. State Street Corp boosted its holdings in Republic Services by 1.7% during the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after acquiring an additional 166,474 shares during the period. Capital World Investors grew its position in Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after acquiring an additional 1,899,183 shares during the last quarter. Morgan Stanley grew its position in Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after acquiring an additional 1,490,719 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after purchasing an additional 807,525 shares during the period. 57.73% of the stock is owned by institutional investors.

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.