This is a high-conviction insider buy from a 10% owner with no apparent 10b5-1 plan — a strong bullish signal. However, historical RSG insider-buy calls have a 14% win rate at T+20, suggesting the market may already price in positive sentiment. Traders should watch for a potential earnings beat or strategic update (e.g., M&A, capital return) that could catalyze further upside, but avoid over-weighting given the poor historical follow-through on similar signals.
Price Chart
Executive Summary
Cascade Investment, L.L.C., a 10% owner of Republic Services, executed a massive open-market buying spree totaling ~$247M over eight trading days (Aug 13–20), acquiring over 1.1M shares at prices ranging from $213 to $224. This is the largest insider buy cluster at RSG in the past 30 days, representing ~0.37% of the company's $67.6B market cap — a significant, high-conviction signal from a major shareholder. The buying accelerated as the stock rose, indicating strong bullish conviction, though historical calibration data suggests previous bullish calls on RSG have underperformed at T+20, warranting a tempered impact score.
Key Financial Metrics
Key Facts
- Cascade Investment (10% owner) purchased ~1.1M RSG shares for ~$247M in open-market transactions from Aug 13–20, 2026.
- Total insider buying in the last 30 days now stands at ~$89.6M (including this cluster), making it the dominant insider activity.
- The buying occurred at prices from $213 to $224, with the largest purchases on Aug 18–20 as the stock moved higher.
- This represents ~0.37% of RSG's $67.6B market cap — a material allocation by a 10% owner.
- No 10b5-1 plan or pre-arranged selling pattern is evident; all trades are open-market purchases.
Financial Impact
~$247M in open-market purchases by a 10% owner over 8 days, representing ~0.37% of market cap.
Risk Factors
- Historical RSG insider-buy signals have underperformed at T+20 (14% win rate, avg alpha -2.21%), suggesting the market may not reward this signal.
- The buying is concentrated in one entity (Cascade Investment) — not a broad C-suite cluster — reducing the signal's diversification benefit.
- No explicit catalyst (earnings, guidance, M&A) is tied to this filing; the purchase may reflect long-term positioning rather than near-term upside.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| INSIDER-BUY Data (Synthetic) | 0001104659-26-100306 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 17d ago | Insider Buy | $223.04 $213.88 | ▼ −4.11% | ▼ −6.23% | $207.51 (−6.96%) |
Sep 10, 2026 22d ago | Insider Buy | $221.08 $218.93 | ▼ −0.97% | ▼ −0.47% | $207.51 (−6.14%) |
Sep 3, 2026 29d ago | Insider Buy | $225.12 $222.74 | ▼ −1.06% | ▲ +0.09% | $207.51 (−7.82%) |
Sep 1, 2026 4w ago | Insider Buy | $223.29 $222.47 | ▼ −0.37% | ▼ −0.45% | $207.51 (−7.07%) |
Aug 28, 2026 4w ago | Insider Buy | $220.92 $221.63 | ▲ +0.32% | ▲ +0.46% | $207.51 (−6.07%) |
Aug 24, 2026 5w ago | Insider Buy | $223.08 $220.92 | ▼ −0.97% | ▼ −1.44% | $207.51 (−6.98%) |
Aug 20, 2026 6w ago | Insider Buy | $219.50 $219.27 | ▼ −0.10% | ▼ −1.22% | $207.51 (−5.46%) |
Aug 18, 2026 6w ago | Insider Buy | $216.97 $220.96 | ▲ +1.84% | ▲ +2.04% | $207.51 (−4.36%) |
Aug 14, 2026 6w ago | Insider Buy | $215.26 $223.08 | ▲ +3.63% | ▲ +4.82% | $207.51 (−3.60%) |
Aug 12, 2026 7w ago | Insider Buy | $214.26 $221.04 | ▲ +3.16% | ▲ +3.61% | $207.51 (−3.15%) |
US Market Status
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