Nippon Life Global Investors Americas Inc. acquired a new stake in Republic Services, Inc. (NYSE:RSG – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,140 shares of the business services provider’s stock, valued at approximately $1,734,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CBIZ Investment Advisory Services LLC raised its holdings in shares of Republic Services by 11.3% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock worth $94,000 after acquiring an additional 45 shares during the last quarter. Focus Financial Network Inc. boosted its stake in Republic Services by 2.5% during the 2nd quarter. Focus Financial Network Inc. now owns 1,861 shares of the business services provider’s stock valued at $397,000 after purchasing an additional 46 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Republic Services by 0.5% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider’s stock worth $2,216,000 after purchasing an additional 48 shares in the last quarter. Williams Jones Wealth Management LLC. raised its stake in shares of Republic Services by 2.6% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider’s stock worth $408,000 after purchasing an additional 49 shares during the last quarter. Finally, AlphaCentric Advisors LLC lifted its holdings in shares of Republic Services by 5.9% in the first quarter. AlphaCentric Advisors LLC now owns 903 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 50 shares in the last quarter. 57.73% of the stock is owned by institutional investors.
Republic Services Stock Up 0.0%
Shares of NYSE:RSG opened at $214.75 on Monday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $238.62. The company has a market capitalization of $65.76 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.51 and a beta of 0.40. The business has a fifty day moving average price of $214.01 and a two-hundred day moving average price of $214.95. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be paid a $0.67 dividend. The ex-dividend date is Friday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio is presently 35.41%.
Analysts Set New Price Targets
Several research analysts recently issued reports on RSG shares. Barclays lifted their target price on Republic Services from $233.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Republic Services in a research note on Friday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. UBS Group increased their target price on shares of Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $245.26.
Get Our Latest Stock Report on Republic Services
Insider Buying and Selling
In related news, major shareholder Cascade Investment, L.L.C. purchased 261,664 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $214.89 per share, for a total transaction of $56,228,976.96. Following the purchase, the insider directly owned 111,065,646 shares in the company, valued at approximately $23,866,896,668.94. This trade represents a 0.24% increase in their position. The transaction was disclosed in a document filed 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 directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 864,624 shares of company stock valued at $186,474,430 over the last three months. Insiders own 0.12% of the company’s stock.
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.
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