Insider Buying: Republic Services (NYSE:RSG) Major Shareholder Purchases 78,150 Shares of Stock

Republic Services, Inc. (NYSE:RSG) major shareholder Cascade Investment, L.L.C. acquired 78,150 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $197.18 per share, for a total transaction of $15,409,617.00. Following the transaction, the insider owned 109,894,982 shares in the company, valued at approximately $21,669,092,550.76. This represents a 0.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Wednesday, May 13th, Cascade Investment, L.L.C. bought 366,000 shares of Republic Services stock. The stock was acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00.
• On Tuesday, May 12th, Cascade Investment, L.L.C. bought 55,000 shares of Republic Services stock. The stock was acquired at an average price of $201.78 per share, for a total transaction of $11,097,900.00.

Republic Services Trading Up 0.6%

NYSE:RSG traded up $1.28 during trading hours on Wednesday, reaching $203.66. The company’s stock had a trading volume of 1,912,140 shares, compared to its average volume of 1,749,744. The firm has a market capitalization of $62.66 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.33 and a beta of 0.43. The firm has a 50-day simple moving average of $215.61 and a 200-day simple moving average of $215.04. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.64 and a current ratio of 0.67.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. Research analysts expect that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of Republic Services during the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Republic Services during the third quarter valued at approximately $29,000. Finally, Prosperity Bancshares Inc purchased 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RSG. Scotiabank cut their target price on shares of Republic Services from $246.00 to $242.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 21st. BMO Capital Markets cut their target price on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 18th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup cut their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $245.15.

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.