Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Buys 301,639 Shares

Key Points

• Cascade Investment increased its Republic Services stake by purchasing 301,639 shares at an average of $222.91, worth approximately $67.2 million. The investor has made a series of additional purchases and now owns 113.1 million shares.
• Republic Services beat quarterly expectations with $1.85 in earnings per share and $4.43 billion in revenue, while revenue rose 4.6% year over year. The company also raised its quarterly dividend to $0.67 per share, or $2.68 annually.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $245.26, above the stock’s reported trading price of $221.96.

Republic Services, Inc. (NYSE:RSG - Get Free Report) major shareholder Cascade Investment, L.L.C. purchased 301,639 shares of Republic Services stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $222.91 per share, with a total value of $67,238,349.49. Following the transaction, the insider owned 113,105,550 shares in the company, valued at approximately $25,212,358,150.50. The trade was a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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, 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, for a total transaction of $59,791,556.76.
• On Friday, August 21st, Cascade Investment, L.L.C. bought 191,361 shares of Republic Services stock. The shares were bought at an average cost of $220.34 per share, with a total value of $42,164,482.74.
• On Thursday, August 20th, Cascade Investment, L.L.C. purchased 208,925 shares of Republic Services stock. The stock was purchased at an average price of $220.26 per share, with a total value of $46,017,820.50.
• On Wednesday, August 19th, Cascade Investment, L.L.C. acquired 178,844 shares of Republic Services stock. The stock was acquired at an average price of $222.51 per share, with a total value of $39,794,578.44.
• On Tuesday, August 18th, Cascade Investment, L.L.C. acquired 200,125 shares of Republic Services stock. The shares were purchased at an average cost of $217.90 per share, with a total value of $43,607,237.50.
• On Monday, August 17th, Cascade Investment, L.L.C. bought 206,800 shares of Republic Services stock. The stock was acquired at an average cost of $214.92 per share, for a total transaction of $44,445,456.00.
• On Friday, August 14th, Cascade Investment, L.L.C. purchased 149,250 shares of Republic Services stock. The stock was bought at an average price of $215.73 per share, for a total transaction of $32,197,702.50.
• On Thursday, August 13th, Cascade Investment, L.L.C. acquired 188,460 shares of Republic Services stock. The shares were purchased at an average cost of $215.81 per share, for a total transaction of $40,671,552.60.
• On Wednesday, August 12th, Cascade Investment, L.L.C. acquired 174,500 shares of Republic Services stock. The stock was purchased at an average cost of $215.80 per share, with a total value of $37,657,100.00.
• On Tuesday, August 11th, Cascade Investment, L.L.C. purchased 240,000 shares of Republic Services stock. The shares were acquired at an average price of $216.32 per share, for a total transaction of $51,916,800.00.

Republic Services Trading Up 0.5%

Republic Services stock traded up $1.00 during mid-day trading on Wednesday, hitting $221.96. 1,427,624 shares of the stock were exchanged, compared to its average volume of 1,542,637. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $67.97 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 3.70 and a beta of 0.40. The firm's fifty day simple moving average is $215.50 and its two-hundred day simple moving average is $215.13. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $235.18.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.04. The firm 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 business's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.67 per share. 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. This is a positive change from Republic Services's previous quarterly dividend of $0.62. Republic Services's dividend payout ratio (DPR) is presently 35.41%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Citigroup boosted their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Argus lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. UBS Group lifted their price target on shares of Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Finally, Morgan Stanley set a $232.00 price objective on Republic Services in a research note on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $245.26.

Hedge Funds Weigh In On Republic Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSG. Brighton Jones LLC boosted its holdings in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after buying an additional 8,547 shares during the period. Federated Hermes Inc. raised its holdings in Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock valued at $4,329,000 after acquiring an additional 3,303 shares during the period. NewEdge Advisors LLC lifted its position in shares of Republic Services by 3.6% during the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock worth $7,322,000 after acquiring an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Republic Services by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider's stock worth $23,336,000 after acquiring an additional 688 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Republic Services by 68.4% in the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock worth $2,871,000 after acquiring an additional 4,729 shares during the period. 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.

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