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

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. bought 55,000 shares of Republic Services stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $201.78 per share, with a total value of $11,097,900.00. Following the completion of the transaction, the insider owned 109,949,982 shares of the company’s stock, valued at $22,185,707,367.96. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wednesday, May 13th, Cascade Investment, L.L.C. bought 366,000 shares of Republic Services stock. The shares were acquired at an average price of $202.24 per share, with a total value of $74,019,840.00.

Republic Services Price Performance

Republic Services stock traded up $1.28 during midday trading on Wednesday, hitting $203.66. 1,912,140 shares of the company’s stock were exchanged, compared to its average volume of 1,749,744. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75. The stock has a 50-day moving average price of $215.61 and a two-hundred day moving average price of $215.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.64 and a current ratio of 0.67. The company has a market cap of $62.66 billion, a P/E ratio of 29.22, a PEG ratio of 3.33 and a beta of 0.43.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping 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 business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research 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 given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is presently 36.15%.

Analyst Ratings Changes

Several equities analysts recently commented on RSG shares. BMO Capital Markets reduced their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Royal Bank Of Canada upped their price objective on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wolfe Research began coverage on Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Argus cut Republic Services from a “buy” rating to a “hold” rating in a report on Monday. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Hold” and an average target price of $245.15.

Hedge Funds Weigh In On Republic Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Republic Services by 7,683.2% in the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock valued at $169,768,000 after acquiring an additional 730,287 shares during the last quarter. National Pension Service lifted its stake in shares of Republic Services by 1.2% in the 3rd quarter. National Pension Service now owns 758,644 shares of the business services provider’s stock valued at $174,094,000 after acquiring an additional 9,041 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in Republic Services during the 3rd quarter valued at approximately $3,524,000. SteelPeak Wealth LLC raised its position in Republic Services by 130.0% during the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock valued at $2,625,000 after purchasing an additional 7,001 shares during the last quarter. Finally, Citigroup Inc. raised its position in Republic Services by 68.8% during the 3rd quarter. Citigroup Inc. now owns 352,462 shares of the business services provider’s stock valued at $80,883,000 after purchasing an additional 143,704 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

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.