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Bill Gates’ Cascade Investment Reveals 28.7% Stake in Republic Services Inc. (RSG)

In a newly amended filing with the U.S. Securities and Exchange Commission, Bill Gates’ Cascade Investment has disclosed a 28.7% stake in Republic Services Inc. (NYSE:RSG). According to the filing, Cascade Investment holds 102.2 million shares of the company. Recently, the fund reported acquiring 31,600 shares of Republic Services Inc. (NYSE:RSG).

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Cascade Investment has been consistently reporting acquiring more shares of Republic Services Inc. (NYSE:RSG). In July, Cascade Investment revealed in a filing with the SEC that it acquired 255,730 shares in one transaction at a price of $37.22 per unit. In June, Cascade Investment reported the acquisition of an aggregate amount of around 1.58 million shares, at prices ranging between approximately $36.60 and $37.20 apiece.

Republic Services Inc. (NYSE:RSG) is engaged in non-hazardous solid waste and recycling business, and has a market cap of $14.0 billion. Last month, the company’s board of directors approved a $0.02 increase in the company’s regular quarterly dividend to $0.28 per share. For the second quarter of 2014 ended June 30, 2014, the company reported net income of $179.0 million, or $0.50 per diluted share, compared to $56.3 million, or $0.15 per diluted share, for the same quarter of 2013. Its quarterly revenue rose to $2.2 billion from $2.1 billion for the same period a year ago. In addition, Republic Services Inc. (NYSE:RSG) reaffirmed its full year adjusted diluted earnings per share guidance from $1.93 to $1.98, according to a press release.

Shares of Republic Services Inc. (NYSE:RSG) rose by 0.23% to $39.46 on Wednesday. Analysts have the consensus average target price of $39.94 for the stock, while the consensus average recommendation is ‘Overweight.’ Republic Services Inc. (NYSE:RSG) has a 52-week high of $39.66 and a 52-week low of $31.42.

In its latest 13F, Mario Gabelli’s GAMCO Investors disclosed ownership of 2.86 million shares of Republic Services Inc. (NYSE:RSG). Another hedge fund, D E Shaw, led by David E. Shaw, reported holding 899,946 shares of the company.

Disclosure: none

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