Republic Services, Inc. (NYSE:RSG – Get Free Report) major shareholder Cascade Investment, L.L.C. purchased 284,600 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were purchased at an average price of $219.52 per share, with a total value of $62,475,392.00. Following the completion of the purchase, the insider directly owned 113,935,127 shares of the company’s stock, valued at $25,011,039,079.04. The trade was a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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 Wednesday, August 26th, Cascade Investment, L.L.C. acquired 275,500 shares of Republic Services stock. The stock was purchased at an average cost of $221.55 per share, for a total transaction of $61,037,025.00.
- On Tuesday, August 25th, Cascade Investment, L.L.C. bought 269,477 shares of Republic Services stock. The shares were acquired at an average cost of $221.88 per share, with a total value of $59,791,556.76.
- On Monday, August 24th, Cascade Investment, L.L.C. purchased 301,639 shares of Republic Services stock. The stock was acquired at an average price of $222.91 per share, for a total transaction of $67,238,349.49.
- On Friday, August 21st, Cascade Investment, L.L.C. purchased 191,361 shares of Republic Services stock. The shares were acquired at an average cost of $220.34 per share, for a total transaction of $42,164,482.74.
- On Thursday, August 20th, Cascade Investment, L.L.C. acquired 208,925 shares of Republic Services stock. The stock was acquired at an average cost of $220.26 per share, with a total value of $46,017,820.50.
- On Wednesday, August 19th, Cascade Investment, L.L.C. bought 178,844 shares of Republic Services stock. The stock was acquired at an average cost of $222.51 per share, for a total transaction of $39,794,578.44.
- On Tuesday, August 18th, Cascade Investment, L.L.C. bought 200,125 shares of Republic Services stock. The shares were acquired at an average price of $217.90 per share, for a total transaction of $43,607,237.50.
- On Monday, August 17th, Cascade Investment, L.L.C. purchased 206,800 shares of Republic Services stock. The shares were acquired at an average cost of $214.92 per share, with a total value of $44,445,456.00.
- On Friday, August 14th, Cascade Investment, L.L.C. purchased 149,250 shares of Republic Services stock. The stock was bought at an average price of $215.73 per share, with a total value of $32,197,702.50.
- On Thursday, August 13th, Cascade Investment, L.L.C. acquired 188,460 shares of Republic Services stock. The shares were bought at an average price of $215.81 per share, for a total transaction of $40,671,552.60.
Republic Services Stock Up 1.4%
Shares of NYSE RSG traded up $2.97 on Friday, hitting $222.24. The company had a trading volume of 1,401,094 shares, compared to its average volume of 1,543,237. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.12. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $235.18. The firm has a market capitalization of $68.05 billion, a P/E ratio of 31.48, a PEG ratio of 3.68 and a beta of 0.40. The business has a 50 day moving average of $216.07 and a two-hundred day moving average of $215.15.
Republic Services Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.67 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, October 2nd. Republic Services’s payout ratio is 37.96%.
Institutional Trading of Republic Services
Institutional investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the 4th quarter worth $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Republic Services in the 2nd quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in shares of Republic Services during the third quarter worth about $26,000. Edmond DE Rothschild Holding S.A. acquired a new position in Republic Services in the second quarter worth about $27,000. Finally, Compass Financial Management LLC acquired a new position in shares of Republic Services in the 2nd quarter worth approximately $27,000. 57.73% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Morgan Stanley set a $232.00 price objective on shares of Republic Services in a report on Friday, August 7th. UBS Group raised their target price on Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings raised Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Finally, Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.26.
Read Our Latest Research Report on RSG
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.
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