Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Purchases 55,000 Shares of Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. purchased 55,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $201.78 per share, with a total value of $11,097,900.00. Following the acquisition, the insider owned 109,949,982 shares of the company’s stock, valued at approximately $22,185,707,367.96. The trade was a 0.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major 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 Monday, May 11th, Cascade Investment, L.L.C. purchased 78,150 shares of Republic Services stock. The stock was bought at an average cost of $197.18 per share, with a total value of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00.

Republic Services Trading Up 0.6%

NYSE RSG opened at $203.66 on Thursday. The company has a fifty day simple moving average of $215.61 and a two-hundred day simple moving average of $215.04. The stock has a market cap of $62.66 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.33 and a beta of 0.43. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast that Republic Services, Inc. will post 7.28 earnings per share 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 dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 36.15%.

Key Headlines Impacting Republic Services

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment, L.L.C., Republic Services’ major shareholder, bought three separate blocks of stock over the last few days, including a 366,000-share purchase at $202.24 and additional buys of 55,000 and 78,150 shares. Large insider buying is often viewed as a sign of confidence in the company’s outlook. SEC filing for Cascade Investment purchases
• Positive Sentiment: A Zacks piece highlighted Republic Services as a long-term growth name, pointing to the company’s appeal as a steady operator with growth characteristics. Zacks article on RSG long-term growth
• Neutral Sentiment: A Yahoo Finance-linked deep dive said first-quarter pricing gains, digital investments, and acquisitions helped offset flat volumes, suggesting Republic’s core business remains resilient but volume growth is still muted. RSG Q1 Deep Dive article
• Negative Sentiment: Argus Research downgraded Republic Services to Hold, and related coverage noted the stock hit a new 1-year low after the downgrade. That analyst move likely weighed on shares and reflects more cautious near-term sentiment. Argus downgrades Republic Services

Hedge Funds Weigh In On Republic Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the fourth quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in Republic Services during the third quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after purchasing an additional 67 shares during the period. Ameriflex Group Inc. purchased a new position in Republic Services during the third quarter worth about $29,000. Finally, Prosperity Bancshares Inc purchased a new position in Republic Services during the fourth quarter worth about $30,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RSG has been the subject of several recent research reports. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley reduced their target price on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. Barclays raised their price target on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday. Scotiabank dropped their price target on shares of Republic Services from $246.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.