Republic Services (NYSE:RSG) Major Shareholder Acquires $12,947,917.00 in Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, May 15th, Cascade Investment, L.L.C. acquired 119,795 shares of Republic Services stock. The stock was acquired at an average price of $208.93 per share, for a total transaction of $25,028,769.35.
• On Thursday, May 14th, Cascade Investment, L.L.C. acquired 307,505 shares of Republic Services stock. The stock was acquired at an average price of $207.68 per share, for a total transaction of $63,862,638.40.
• On Monday, May 11th, Cascade Investment, L.L.C. acquired 78,150 shares of Republic Services stock. The stock was acquired at an average price of $197.18 per share, for a total transaction of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. acquired 366,000 shares of Republic Services stock. The stock was acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. bought 55,000 shares of Republic Services stock. The stock was purchased at an average price of $201.78 per share, with a total value of $11,097,900.00.

Republic Services Stock Up 2.9%

Shares of RSG traded up $6.11 on Monday, reaching $214.43. The stock had a trading volume of 1,953,359 shares, compared to its average volume of 1,832,723. The firm has a market capitalization of $65.97 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.43 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50-day simple moving average of $214.67 and a 200-day simple moving average of $214.85. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 EPS. Sell-side analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid 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 (DPR) is presently 35.87%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on 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. Oppenheimer lowered their price objective on Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Wolfe Research began coverage on Republic Services in a research note on Friday, March 13th. They set a “peer perform” rating for the company. Royal Bank Of Canada lifted their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Hold” and an average target price of $245.15.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.3% in the third quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider’s stock worth $4,384,757,000 after purchasing an additional 49,365 shares during the last quarter. State Street Corp increased its position in Republic Services by 1.7% during the fourth 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 last quarter. Capital World Investors increased its position in Republic Services by 27.7% during the fourth 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 increased its position in Republic Services by 38.6% during the fourth 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 position in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after acquiring an additional 807,525 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

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.