MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 6,399 Shares of Republic Services, Inc. (NYSE:RSG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,904 shares of the business services provider’s stock after acquiring an additional 6,399 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Republic Services were worth $20,300,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Republic Services in the 4th quarter valued at approximately $553,039,000. Raymond James Financial Inc. bought a new stake in Republic Services in the fourth quarter valued at $184,827,000. Price T Rowe Associates Inc. MD raised its stake in Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after acquiring an additional 499,237 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Republic Services by 170.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock valued at $117,559,000 after acquiring an additional 368,395 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Republic Services by 176.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider’s stock valued at $110,298,000 after purchasing an additional 350,221 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $237.80 on Thursday. The stock has a market cap of $74.31 billion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 3.64 and a beta of 0.66. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $253.54. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $240.45 and its 200 day simple moving average is $223.32.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. As a group, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s payout ratio is 34.99%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Argus set a $260.00 price objective on shares of Republic Services in a report on Tuesday, February 18th. Stifel Nicolaus boosted their target price on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. Finally, Jefferies Financial Group boosted their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $249.00.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.