Insider Buying: Republic Services (NYSE:RSG) Major Shareholder Acquires 365,039 Shares

Key Points

• Cascade Investment purchased 365,039 Republic Services shares at an average $223.16 each, worth approximately $81.5 million, increasing its stake to 115.76 million shares. The transaction was part of a series of purchases totaling millions of dollars over recent weeks.
• Republic Services reported quarterly adjusted earnings of $1.85 per share and revenue of $4.43 billion, exceeding analyst expectations, while revenue rose 4.6% year over year.
• The company raised its quarterly dividend from $0.62 to $0.67 per share, equivalent to a $2.68 annualized payout and a 1.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $245.26.

Republic Services, Inc. (NYSE:RSG - Get Free Report) major shareholder Cascade Investment, L.L.C. bought 365,039 shares of Republic Services stock in a transaction on Friday, September 4th. The shares were acquired at an average cost of $223.16 per share, with a total value of $81,462,103.24. Following the completion of the acquisition, the insider owned 115,756,830 shares of the company's stock, valued at $25,832,294,182.80. The trade was a 0.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Cascade Investment, L.L.C. also recently made the following trade(s):

• On Thursday, September 3rd, Cascade Investment, L.L.C. acquired 370,264 shares of Republic Services stock. The shares were 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. acquired 329,200 shares of Republic Services stock. The stock was bought at an average price of $223.27 per share, with a total value of $73,500,484.00.
• On Tuesday, September 1st, Cascade Investment, L.L.C. bought 204,800 shares of Republic Services stock. The shares were bought at an average price of $222.68 per share, for a total transaction of $45,604,864.00.
• On Monday, August 31st, Cascade Investment, L.L.C. purchased 301,000 shares of Republic Services stock. The shares were bought at an average cost of $221.94 per share, with a total value of $66,803,940.00.
• On Friday, August 28th, Cascade Investment, L.L.C. purchased 251,400 shares of Republic Services stock. The stock was bought at an average price of $221.03 per share, with a total value 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, for a total transaction of $62,475,392.00.
• On Wednesday, August 26th, Cascade Investment, L.L.C. acquired 275,500 shares of Republic Services stock. The shares were bought at an average price of $221.55 per share, with a total value of $61,037,025.00.
• On Tuesday, August 25th, Cascade Investment, L.L.C. bought 269,477 shares of Republic Services stock. The stock was purchased 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. bought 301,639 shares of Republic Services stock. The shares were purchased 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 stock was purchased at an average price of $220.34 per share, with a total value of $42,164,482.74.

Republic Services Price Performance

Shares of NYSE RSG traded down $1.02 during midday trading on Tuesday, reaching $221.69. The stock had a trading volume of 1,491,808 shares, compared to its average volume of 1,547,906. The company has a market capitalization of $67.88 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 3.69 and a beta of 0.40. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $233.42. The stock has a 50-day moving average of $217.74 and a 200-day moving average of $215.14. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64.

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

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be given a dividend of $0.67 per share. This is a positive change 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 dividend payout ratio (DPR) is currently 35.41%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research reports. Morgan Stanley set a $232.00 price target on shares of Republic Services in a report on Friday, August 7th. Barclays raised their price objective on Republic Services from $233.00 to $240.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Argus downgraded Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Weiss Ratings raised Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Finally, UBS Group lifted their price objective on Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $245.26.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new stake in shares of Republic Services in the 2nd quarter worth about $25,000. Wealth Watch Advisors INC bought a new position in Republic Services during the 3rd quarter valued at about $26,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Republic Services in the 2nd quarter worth about $27,000. Compass Financial Management LLC purchased a new position in shares of Republic Services during the second quarter valued at approximately $27,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Republic Services during the fourth quarter valued at approximately $30,000. Institutional investors own 57.73% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.