Cascade Investment, L.L.C. Acquires 366,000 Shares of Republic Services (NYSE:RSG) Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% 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 Tuesday, May 12th, Cascade Investment, L.L.C. acquired 55,000 shares of Republic Services stock. The stock was bought at an average cost of $201.78 per share, with a total value of $11,097,900.00.

Republic Services Stock Up 0.6%

Shares of Republic Services stock traded up $1.28 on Wednesday, hitting $203.66. The company had a trading volume of 1,912,140 shares, compared to its average volume of 1,749,744. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 3.33 and a beta of 0.43. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75. The stock has a 50 day moving average of $215.61 and a 200-day moving average of $215.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.64 and a current ratio of 0.67.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, sell-side analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

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

Institutional Investors Weigh In On Republic Services

Several institutional investors have recently made changes to their positions in RSG. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services during the fourth quarter worth $25,000. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services in the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after buying an additional 67 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Republic Services in the third quarter worth $29,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Republic Services in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RSG. Morgan Stanley reduced their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. UBS Group reduced their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday. Wolfe Research assumed coverage on Republic Services in a report on Friday, March 13th. They set a “peer perform” rating for the company. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a report on Monday. Finally, Citigroup reduced their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Republic Services has an average rating of “Hold” and an average price target of $245.15.

About Republic Services

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.