Nomura Asset Management Co. Ltd. Buys 1,595 Shares of Republic Services, Inc. $RSG

Nomura Asset Management Co. Ltd. raised its stake in Republic Services, Inc. (NYSE:RSG) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,823 shares of the business services provider’s stock after buying an additional 1,595 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Republic Services were worth $19,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Raiffeisen Bank International AG increased its stake in shares of Republic Services by 16.6% in the 2nd quarter. Raiffeisen Bank International AG now owns 5,096 shares of the business services provider’s stock valued at $1,243,000 after acquiring an additional 726 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Republic Services by 9.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 221,720 shares of the business services provider’s stock valued at $54,678,000 after purchasing an additional 19,111 shares in the last quarter. ANB Bank raised its holdings in Republic Services by 4.4% in the second quarter. ANB Bank now owns 1,645 shares of the business services provider’s stock worth $406,000 after purchasing an additional 70 shares during the period. MTM Investment Management LLC bought a new position in shares of Republic Services during the second quarter worth $178,000. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Republic Services in the 2nd quarter valued at $202,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 2.0%

Shares of RSG stock opened at $213.97 on Wednesday. The firm’s fifty day moving average price is $219.57 and its two-hundred day moving average price is $234.44. Republic Services, Inc. has a 1 year low of $199.43 and a 1 year high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $66.24 billion, a P/E ratio of 31.65, a PEG ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the company earned $1.81 EPS. Republic Services’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 37.20%.

Insider Activity at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RSG shares. Stifel Nicolaus reduced their target price on Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group set a $248.00 price objective on shares of Republic Services and gave the stock a “buy” rating in a report on Monday, November 3rd. Oppenheimer set a $256.00 target price on shares of Republic Services in a research note on Friday, October 31st. Barclays started coverage on Republic Services in a research note on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Republic Services in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $250.91.

About Republic Services

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.