Danske Bank A S bought a new position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) in the second quarter, Holdings Channel reports. The firm bought 161,605 shares of the business services provider’s stock, valued at approximately $34,435,000.
A number of other large investors also recently made changes to their positions in RSG. Bridgewater Advisors Inc. acquired a new stake in shares of Republic Services in the 2nd quarter valued at approximately $535,000. iA Global Asset Management Inc. grew its holdings in Republic Services by 18.5% during the fourth quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock valued at $13,606,000 after purchasing an additional 10,000 shares during the period. Norges Bank bought a new stake in Republic Services in the fourth quarter valued at approximately $617,165,000. Varma Mutual Pension Insurance Co raised its holdings in Republic Services by 25.6% in the fourth quarter. Varma Mutual Pension Insurance Co now owns 67,178 shares of the business services provider’s stock worth $14,237,000 after purchasing an additional 13,700 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of Republic Services by 14.0% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 207,272 shares of the business services provider’s stock valued at $43,927,000 after buying an additional 25,505 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.
Republic Services Stock Performance
Shares of RSG stock opened at $220.85 on Thursday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $238.62. The company’s fifty day simple moving average is $214.52 and its 200-day simple moving average is $214.98. The firm has a market cap of $67.63 billion, a PE ratio of 31.28, a P/E/G ratio of 3.55 and a beta of 0.40. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s dividend payout ratio is 35.41%.
Insider Transactions at Republic Services
In related news, major shareholder Cascade Investment, L.L.C. purchased 206,800 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $214.92 per share, for a total transaction of $44,445,456.00. Following the completion of the purchase, the insider directly owned 112,024,656 shares in the company, valued at $24,076,339,067.52. This trade represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 1,220,674 shares of company stock worth $263,117,588. 0.12% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
RSG has been the topic of several research analyst reports. Morgan Stanley set a $232.00 price objective on Republic Services in a research note on Friday, August 7th. UBS Group increased their price target on Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Republic Services in a research note on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus target price of $245.26.
Read Our Latest Stock Report on RSG
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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