Republic Services, Inc. $RSG Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its position in Republic Services, Inc. (NYSE:RSG) by 11.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 821,171 shares of the business services provider’s stock after acquiring an additional 81,379 shares during the quarter. Bessemer Group Inc.’s holdings in Republic Services were worth $174,031,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RSG. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the 4th quarter worth about $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after buying an additional 67 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Republic Services in the 3rd quarter worth about $29,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Republic Services during the 4th quarter worth approximately $32,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RSG. Morgan Stanley lowered their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Robert W. Baird lowered their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. UBS Group lowered their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Finally, Oppenheimer lowered their target price on Republic Services from $256.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $245.15.

Republic Services Stock Up 2.5%

Shares of NYSE RSG opened at $208.67 on Friday. The firm has a market cap of $64.20 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 3.35 and a beta of 0.43. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75. The business’s 50 day moving average is $215.14 and its two-hundred day moving average is $214.94.

Republic Services (NYSE:RSG) last announced its 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. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 earnings per share. Research analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is presently 36.15%.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 499,150 shares of company stock valued at $100,527,357 over the last 90 days. 0.12% of the stock is owned by insiders.

About Republic Services

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.