Cascade Investment, L.L.C. Purchases 311,304 Shares of Republic Services (NYSE:RSG) Stock

Key Points

• Cascade Investment bought 311,304 Republic Services shares for approximately $68.9 million at an average price of $221.31, increasing its ownership by 0.27% to 116.5 million shares. The purchase continues a series of large acquisitions totaling millions of shares since late August.
• Republic Services reported quarterly EPS of $1.85 and revenue of $4.43 billion, exceeding analyst expectations, while revenue increased 4.6% year over year. The company also raised its quarterly dividend to $0.67 per share, implying a 1.2% annual yield.
• The stock traded near $221, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $245.26; institutional investors and hedge funds own 57.73% of the company.

Republic Services, Inc. (NYSE:RSG - Get Free Report) major shareholder Cascade Investment, L.L.C. acquired 311,304 shares of the stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $221.31 per share, for a total transaction of $68,894,688.24. Following the transaction, the insider directly owned 116,477,634 shares in the company, valued at approximately $25,777,665,180.54. This trade represents a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more 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 Tuesday, September 8th, Cascade Investment, L.L.C. bought 409,500 shares of Republic Services stock. The stock was acquired at an average cost of $221.49 per share, with a total value of $90,700,155.00.
• On Friday, September 4th, Cascade Investment, L.L.C. purchased 365,039 shares of Republic Services stock. The shares were acquired at an average cost of $223.16 per share, for a total transaction of $81,462,103.24.
• On Thursday, September 3rd, Cascade Investment, L.L.C. acquired 370,264 shares of Republic Services stock. The stock was acquired at an average cost of $224.81 per share, with a total value of $83,239,049.84.
• On Wednesday, September 2nd, Cascade Investment, L.L.C. bought 329,200 shares of Republic Services stock. The shares were acquired at an average price of $223.27 per share, for a total transaction of $73,500,484.00.
• On Tuesday, September 1st, Cascade Investment, L.L.C. purchased 204,800 shares of Republic Services stock. The stock was acquired at an average price of $222.68 per share, with a total value of $45,604,864.00.
• On Monday, August 31st, Cascade Investment, L.L.C. purchased 301,000 shares of Republic Services stock. The stock was bought at an average price of $221.94 per share, with a total value of $66,803,940.00.
• On Friday, August 28th, Cascade Investment, L.L.C. acquired 251,400 shares of Republic Services stock. The shares were bought at an average price of $221.03 per share, for a total transaction of $55,566,942.00.
• On Thursday, August 27th, Cascade Investment, L.L.C. acquired 284,600 shares of Republic Services stock. The stock was bought at an average cost of $219.52 per share, with a total value of $62,475,392.00.
• On Wednesday, August 26th, Cascade Investment, L.L.C. bought 275,500 shares of Republic Services stock. The shares were bought 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. purchased 269,477 shares of Republic Services stock. The stock was bought at an average cost of $221.88 per share, with a total value of $59,791,556.76.

Republic Services Price Performance

RSG traded down $1.23 on Thursday, hitting $221.24. 1,648,597 shares of the stock were exchanged, compared to its average volume of 1,549,700. The firm has a market capitalization of $67.74 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.67 and a beta of 0.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $233.42. The business has a 50-day moving average of $218.07 and a two-hundred day moving average of $215.18.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.04. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.36 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Republic Services's previous quarterly dividend of $0.62. Republic Services's dividend payout ratio (DPR) is 35.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Republic Services by 19,694.6% in the second quarter. California State Teachers Retirement System now owns 49,796,796 shares of the business services provider's stock valued at $10,610,701,000 after purchasing an additional 49,545,228 shares during the last quarter. BlackRock Inc. bought a new position in Republic Services during the second quarter valued at $3,798,092,000. Bank of America Corp DE bought a new stake in Republic Services in the 2nd quarter valued at about $682,573,000. Norges Bank purchased a new stake in shares of Republic Services during the 4th quarter valued at approximately $617,165,000. Finally, Capital World Investors boosted its holdings in shares of Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock worth $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

RSG has been the subject of several recent analyst reports. Barclays upped their price objective on Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Citigroup boosted their target price on Republic Services from $247.00 to $259.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. UBS Group raised their price target on shares of Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Morgan Stanley set a $232.00 price objective on shares of Republic Services in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $245.26.

Republic Services Company Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, offering scheduled and on-demand waste pickup, roll-off containers, transfer-station services and landfill disposal.

Its recycling and environmental services include the collection and processing of recyclable materials, organics management, waste reduction programs and related sustainability solutions.

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