Cascade Investment, L.L.C. Purchases 119,795 Shares of Republic Services (NYSE:RSG) Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. purchased 119,795 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $208.93 per share, with a total value of $25,028,769.35. Following the purchase, the insider owned 110,743,282 shares in the company, valued at $23,137,593,908.26. This represents a 0.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 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 Monday, May 18th, Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock. The shares were bought at an average price of $213.31 per share, with a total value of $12,947,917.00.
• On Thursday, May 14th, Cascade Investment, L.L.C. purchased 307,505 shares of Republic Services stock. The shares were bought at an average price of $207.68 per share, with a total value of $63,862,638.40.
• On Monday, May 11th, Cascade Investment, L.L.C. purchased 78,150 shares of Republic Services stock. The shares were bought at an average price 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 acquired at an average price 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 acquired at an average price of $201.78 per share, with a total value of $11,097,900.00.

Republic Services Price Performance

Shares of NYSE:RSG opened at $214.94 on Wednesday. The business has a 50 day moving average price of $214.00 and a 200 day moving average price of $214.86. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75. The company has a market cap of $66.13 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 3.53 and a beta of 0.43. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last announced its quarterly earnings data 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 return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the company earned $1.58 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date 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 currently 36.15%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RSG shares. Scotiabank cut their target price on Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price target on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Finally, Oppenheimer reduced their price target on Republic Services from $256.00 to $255.00 and set an “outperform” rating on the stock in a research 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 company. According to data from MarketBeat, Republic Services has a consensus rating of “Hold” and an average target price of $245.15.

Key Headlines Impacting Republic Services

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Institutional Trading of Republic Services

A number of institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in Republic Services in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in Republic Services in the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after buying an additional 67 shares during the period. Ameriflex Group Inc. bought a new position in shares of Republic Services during the third quarter worth approximately $29,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Republic Services during the fourth quarter worth approximately $30,000. 57.73% of the stock is currently owned by 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.