Comprehensive Financial Planning Inc. PA purchased a new position in Republic Services, Inc. (NYSE:RSG – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,599 shares of the business services provider’s stock, valued at approximately $554,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Republic Services during the 2nd quarter valued at $3,798,092,000. State Street Corp increased its stake in shares of Republic Services by 1.7% in the 4th 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 in the last quarter. Capital World Investors lifted its position 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 valued at $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Morgan Stanley boosted its stake in Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after acquiring an additional 1,490,719 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Republic Services by 18.9% during the fourth 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. Hedge funds and other institutional investors own 57.73% of the company’s stock.
Republic Services Price Performance
Shares of RSG opened at $217.17 on Wednesday. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $238.62. The company has a market capitalization of $66.50 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.51 and a beta of 0.40. The firm has a 50 day moving average of $214.36 and a 200 day moving average of $214.94. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.12.
Republic Services Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 35.41%.
Insider Buying and Selling at Republic Services
In related news, major shareholder Cascade Investment, L.L.C. purchased 206,800 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $214.92 per share, with a total value of $44,445,456.00. Following the acquisition, the insider directly owned 112,024,656 shares in the company, valued at $24,076,339,067.52. The trade was a 0.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the sale, the director owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased 1,220,674 shares of company stock worth $263,117,588 over the last ninety days. 0.12% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Citigroup boosted their price target on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Barclays boosted their target price on Republic Services from $233.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Republic Services in a research note on Friday, July 24th. Finally, Morgan Stanley set a $232.00 price target on Republic Services in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.26.
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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