UniSuper Management Pty Ltd Lowers Position in Republic Services, Inc. $RSG

UniSuper Management Pty Ltd lessened its stake in Republic Services, Inc. (NYSE:RSG) by 18.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 137,572 shares of the business services provider’s stock after selling 30,704 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Republic Services were worth $29,156,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RSG. CBIZ Investment Advisory Services LLC grew 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 worth $94,000 after acquiring an additional 45 shares during the period. ICONIQ Capital LLC grew 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 worth $384,000 after acquiring an additional 50 shares during the period. Prospera Financial Services Inc grew its holdings in 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 purchasing an additional 51 shares during the last quarter. Composition Wealth LLC grew its holdings in 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 purchasing an additional 52 shares during the last quarter. Finally, Garner Asset Management Corp grew its holdings in 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 purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RSG. JPMorgan Chase & Co. upped their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. 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. 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, May 12th. Citigroup lowered their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Stock Down 2.0%

RSG opened at $208.30 on Friday. 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 firm has a market cap of $64.09 billion, a P/E ratio of 29.89, a PEG ratio of 3.50 and a beta of 0.41. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $253.38. The business’s fifty day simple moving average is $209.05 and its 200 day simple moving average is $214.55.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business 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 business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. As a group, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

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.