Cascade Investment, L.L.C. Purchases 307,505 Shares of Republic Services (NYSE:RSG) Stock

Key Points

• Cascade Investment, L.L.C. bought 307,505 shares of Republic Services on May 14 at an average price of $207.68, a transaction worth about $63.9 million. The purchase increased its ownership by 0.28%, and the firm disclosed it in an SEC filing.
• Cascade also made several additional purchases of RSG shares in the surrounding days, including a 366,000-share buy on May 13 and other buys on May 11, 12, 15, and 18, signaling sustained insider accumulation.
• Republic Services reported better-than-expected quarterly earnings, with EPS of $1.70 versus estimates of $1.64, and reaffirmed a quarterly dividend of $0.625 per share. Analysts currently have a consensus Hold rating on the stock with a price target of $245.15.

Republic Services, Inc. (NYSE:RSG - Get Free Report) major shareholder Cascade Investment, L.L.C. bought 307,505 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $207.68 per share, for a total transaction of $63,862,638.40. Following the purchase, the insider directly owned 110,623,487 shares of the company's stock, valued at approximately $22,974,285,780.16. The trade was a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large 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 Monday, May 18th, Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock. The shares were purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00.
• On Friday, May 15th, Cascade Investment, L.L.C. acquired 119,795 shares of Republic Services stock. The stock was purchased at an average price of $208.93 per share, with a total value of $25,028,769.35.
• 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, for a total transaction of $15,409,617.00.
• On Wednesday, May 13th, Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock. The stock was 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. purchased 55,000 shares of Republic Services stock. The stock was acquired at an average cost of $201.78 per share, with a total value of $11,097,900.00.

Republic Services Price Performance

Shares of NYSE RSG traded up $6.11 during trading on Monday, hitting $214.43. The company had a trading volume of 1,953,359 shares, compared to its average volume of 1,832,723. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $258.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $214.67 and a two-hundred day simple moving average of $214.85. The firm has a market capitalization of $65.97 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.43 and a beta of 0.43.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating 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 business had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The company's quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services's payout ratio is presently 35.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RSG shares. Robert W. Baird decreased their price objective on shares of Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Oppenheimer decreased their price target on Republic Services from $256.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday, January 23rd. Citigroup dropped their price objective on Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. UBS Group decreased their target price on Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. Finally, Weiss Ratings cut Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Eleven research 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, the stock has a consensus rating of "Hold" and a consensus price target of $245.15.

Hedge Funds Weigh In On Republic Services

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Republic Services by 0.3% during the third quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider's stock worth $4,384,757,000 after buying an additional 49,365 shares during the last quarter. State Street Corp raised its stake in shares of Republic Services by 1.7% during the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider's stock worth $2,054,820,000 after buying an additional 166,474 shares during the last quarter. Capital World Investors increased its holdings in Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after acquiring an additional 1,899,183 shares in the last quarter. Morgan Stanley grew its position in shares of Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Republic Services by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock worth $1,074,513,000 after purchasing an additional 807,525 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Company Profile

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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