Republic Services, Inc. (NYSE:RSG – Get Free Report) major shareholder Cascade Investment, L.L.C. bought 178,844 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average price of $222.51 per share, for a total transaction of $39,794,578.44. Following the completion of the acquisition, the insider directly owned 112,403,625 shares in the company, valued at $25,010,930,598.75. The trade was a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 18th, Cascade Investment, L.L.C. purchased 200,125 shares of Republic Services stock. The shares were purchased at an average price of $217.90 per share, with a total value 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 acquired at an average price of $214.92 per share, for a total transaction of $44,445,456.00.
- On Friday, August 14th, Cascade Investment, L.L.C. bought 149,250 shares of Republic Services stock. The shares were acquired at an average cost 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 stock was acquired 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 shares were acquired 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. acquired 240,000 shares of Republic Services stock. The stock was bought at an average price of $216.32 per share, for a total transaction of $51,916,800.00.
- On Monday, August 10th, Cascade Investment, L.L.C. bought 261,664 shares of Republic Services stock. The shares were bought at an average cost of $214.89 per share, with a total value of $56,228,976.96.
Republic Services Price Performance
Shares of RSG opened at $219.58 on Friday. The firm has a 50-day simple moving average of $214.75 and a two-hundred day simple moving average of $215.01. The stock has a market cap of $67.24 billion, a PE ratio of 31.10, a P/E/G ratio of 3.62 and a beta of 0.40. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $237.06. 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 Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be given a dividend of $0.67 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, October 2nd. Republic Services’s dividend payout ratio (DPR) is 35.41%.
Analyst Upgrades and Downgrades
RSG has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Republic Services in a research report on Friday, July 24th. UBS Group boosted their price target on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Citigroup increased their price target on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.26.
Check Out Our Latest Research Report on RSG
Hedge Funds Weigh In On Republic Services
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Republic Services during the second quarter worth approximately $3,798,092,000. State Street Corp lifted its stake in Republic Services by 1.7% in the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after acquiring an additional 166,474 shares during the last quarter. Capital World Investors grew its holdings in Republic Services by 27.7% during the 4th 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 in the last quarter. Morgan Stanley increased its position in shares of Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Republic Services by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.
Republic Services Company Profile
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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