Capital World Investors Boosts Holdings in Republic Services, Inc. $RSG

Capital World Investors raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 27.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,765,623 shares of the business services provider’s stock after purchasing an additional 1,899,183 shares during the period. Capital World Investors’ holdings in Republic Services were worth $1,857,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC lifted its holdings in Republic Services by 11.3% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 45 shares in the last quarter. ICONIQ Capital LLC lifted its holdings in Republic Services by 3.3% during the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 50 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of Republic Services by 1.1% in the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock valued at $1,094,000 after buying an additional 51 shares during the last quarter. Composition Wealth LLC raised its position in shares of Republic Services by 1.4% in the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after buying an additional 52 shares during the last quarter. Finally, Garner Asset Management Corp raised its position in shares of Republic Services by 1.2% in the fourth quarter. Garner Asset Management Corp now owns 4,782 shares of the business services provider’s stock valued at $1,013,000 after buying an additional 55 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 987,150 shares of company stock worth $202,366,682 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada increased their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Robert W. Baird reduced their target price 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. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Republic Services presently has an average rating of “Hold” and an average target price of $245.15.

Republic Services Price Performance

Republic Services stock opened at $210.59 on Friday. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $255.47. The stock has a market cap of $64.79 billion, a P/E ratio of 30.21, a PEG ratio of 3.46 and a beta of 0.41. The company has a 50-day moving average price of $209.81 and a 200 day moving average price of $214.75. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

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

Republic Services Dividend Announcement

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

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.