Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Acquires 78,150 Shares of Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. acquired 78,150 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $197.18 per share, for a total transaction of $15,409,617.00. Following the transaction, the insider owned 109,894,982 shares in the company, valued at approximately $21,669,092,550.76. This represents a 0.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, May 13th, Cascade Investment, L.L.C. acquired 366,000 shares of Republic Services stock. The stock was bought 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 shares were acquired at an average price of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Trading Up 0.6%

Shares of NYSE:RSG opened at $203.66 on Thursday. The business’s 50 day moving average price is $215.61 and its 200-day moving average price is $215.04. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.64. The firm has a market capitalization of $62.66 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.33 and a beta of 0.43.

Republic Services (NYSE:RSG) last posted 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 firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the company earned $1.58 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Trending Headlines about 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

Several large investors have recently added to or reduced their stakes in RSG. Laurel Wealth Advisors LLC purchased 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 in the third quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Republic Services by 121.8% during the 3rd 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 during the last quarter. Ameriflex Group Inc. bought a new position in Republic Services during the 3rd quarter worth approximately $29,000. Finally, Prosperity Bancshares Inc bought a new position in Republic Services during the 4th quarter worth approximately $30,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Scotiabank lowered their target price on Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wolfe Research started coverage on Republic Services in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Finally, 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. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.