Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Purchases 208,925 Shares

Key Points

• Cascade Investment purchased 208,925 Republic Services shares for approximately $46.0 million at an average price of $220.26, increasing its stake to 112.6 million shares. The investor also made multiple additional purchases in August.
• Republic Services reported quarterly EPS of $1.85, exceeding estimates, while revenue rose 4.6% year over year to $4.43 billion. The company raised its quarterly dividend to $0.67, equivalent to a 1.2% annual yield.
• RSG shares recently traded at $223.04, below the analyst consensus target of $245.26; analysts overall rate the stock “Moderate Buy.”

Republic Services, Inc. (NYSE:RSG - Get Free Report) major shareholder Cascade Investment, L.L.C. purchased 208,925 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $220.26 per share, for a total transaction of $46,017,820.50. Following the acquisition, the insider owned 112,612,550 shares of the company's stock, valued at approximately $24,804,040,263. The trade was a 0.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, August 21st, Cascade Investment, L.L.C. bought 191,361 shares of Republic Services stock. The stock was acquired at an average price of $220.34 per share, for a total transaction of $42,164,482.74.
• On Wednesday, August 19th, Cascade Investment, L.L.C. purchased 178,844 shares of Republic Services stock. The shares were 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. purchased 200,125 shares of Republic Services stock. The shares were acquired at an average cost of $217.90 per share, for a total transaction of $43,607,237.50.
• On Monday, August 17th, Cascade Investment, L.L.C. acquired 206,800 shares of Republic Services stock. The stock was bought at an average cost of $214.92 per share, with a total value of $44,445,456.00.
• On Friday, August 14th, Cascade Investment, L.L.C. bought 149,250 shares of Republic Services stock. The stock was bought at an average price of $215.73 per share, with a total value of $32,197,702.50.
• On Thursday, August 13th, Cascade Investment, L.L.C. purchased 188,460 shares of Republic Services stock. The shares were bought at an average price 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 bought at an average price of $215.80 per share, with a total value of $37,657,100.00.
• On Tuesday, August 11th, Cascade Investment, L.L.C. bought 240,000 shares of Republic Services stock. The stock was purchased at an average price of $216.32 per share, with a total value of $51,916,800.00.
• On Monday, August 10th, Cascade Investment, L.L.C. purchased 261,664 shares of Republic Services stock. The shares were purchased at an average price of $214.89 per share, for a total transaction of $56,228,976.96.

Republic Services Price Performance

Shares of Republic Services stock traded up $2.37 during trading on Monday, hitting $223.04. The stock had a trading volume of 1,362,297 shares, compared to its average volume of 1,544,581. The business has a fifty day moving average of $214.96 and a two-hundred day moving average of $215.04. The firm has a market cap of $68.30 billion, a P/E ratio of 31.59, a PEG ratio of 3.66 and a beta of 0.40. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $235.98. 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 (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.81 by $0.04. The firm 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, sell-side analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in Republic Services by 19,694.6% in the 2nd quarter. California State Teachers Retirement System now owns 49,796,796 shares of the business services provider's stock worth $10,610,701,000 after buying an additional 49,545,228 shares in the last quarter. Greenland Capital Management LP acquired a new position in shares of Republic Services in the second quarter worth $5,255,000. Washington Trust Advisors Inc. acquired a new stake in Republic Services during the second quarter valued at $66,000. Ameritas Advisory Services LLC purchased a new position in Republic Services in the second quarter valued at about $239,000. Finally, Wedmont Private Capital increased its position in Republic Services by 27.8% in the 2nd quarter. Wedmont Private Capital now owns 3,886 shares of the business services provider's stock worth $852,000 after purchasing an additional 846 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RSG. Argus cut Republic Services from a "buy" rating to a "hold" rating in a report on Monday, May 11th. Morgan Stanley set a $232.00 price objective on shares of Republic Services in a research note on Friday, August 7th. UBS Group lifted their target price on shares of Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Barclays upped their price target on shares of Republic Services from $233.00 to $240.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $245.26.

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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