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

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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. purchased 119,795 shares of Republic Services stock. The stock was acquired at an average cost of $208.93 per share, with a total value of $25,028,769.35.
• On Thursday, May 14th, Cascade Investment, L.L.C. bought 307,505 shares of Republic Services stock. The shares were purchased at an average cost of $207.68 per share, with a total value of $63,862,638.40.
• On Monday, May 11th, Cascade Investment, L.L.C. bought 78,150 shares of Republic Services stock. The shares were purchased 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. bought 366,000 shares of Republic Services stock. The shares were purchased 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. bought 55,000 shares of Republic Services stock. The shares were purchased at an average cost of $201.78 per share, with a total value of $11,097,900.00.

Republic Services Stock Down 1.3%

RSG stock opened at $212.21 on Thursday. 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 $65.29 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. The firm’s 50-day moving average is $213.63 and its two-hundred day moving average is $214.87. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company 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 firm earned $1.58 EPS. Republic Services’s revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Analyst Ratings Changes

Several research firms have commented on RSG. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. UBS Group decreased their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. BMO Capital Markets cut their price target on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 18th. Scotiabank lowered their target price on shares of Republic Services from $246.00 to $242.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. Finally, Oppenheimer decreased their price objective on shares of Republic Services from $256.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $245.15.

Institutional Trading of Republic Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new stake in Republic Services during the 3rd quarter valued at approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in Republic Services during the 4th quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC increased its position 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 valued at $28,000 after purchasing an additional 67 shares during the period. Ameriflex Group Inc. acquired a new stake in Republic Services during the 3rd quarter valued at approximately $29,000. Finally, Prosperity Bancshares Inc acquired a new stake in Republic Services during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.