CIBC Asset Management Inc Grows Stock Holdings in Republic Services, Inc. $RSG

CIBC Asset Management Inc increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,131 shares of the business services provider’s stock after buying an additional 16,578 shares during the quarter. CIBC Asset Management Inc’s holdings in Republic Services were worth $45,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services during the fourth quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in shares of Republic Services during the third quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Republic Services during the third quarter worth about $29,000. Sound Income Strategies LLC purchased a new position in shares of Republic Services during the fourth quarter worth about $32,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Republic Services by 100.0% during the third quarter. Westside Investment Management Inc. now owns 172 shares of the business services provider’s stock worth $39,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $204.21 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market cap of $62.83 billion, a P/E ratio of 29.30, a PEG ratio of 3.32 and a beta of 0.41. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $256.85. The company has a 50-day moving average price of $210.05 and a 200 day moving average price of $214.80.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the firm earned $1.58 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Robert W. Baird reduced their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Company raised their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Citigroup reduced their price objective on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $245.15.

Republic Services 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.