Erste Asset Management GmbH Boosts Stock Holdings in Republic Services, Inc. $RSG

Erste Asset Management GmbH grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,949 shares of the business services provider’s stock after acquiring an additional 9,519 shares during the quarter. Erste Asset Management GmbH’s holdings in Republic Services were worth $11,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wealth Watch Advisors INC bought a new stake in shares of Republic Services during the 3rd quarter worth $26,000. Laurel Wealth Advisors LLC bought a new stake in shares of Republic Services during the 4th quarter worth $25,000. Ameriflex Group Inc. bought a new stake in shares of Republic Services during the 3rd quarter worth $29,000. Sound Income Strategies LLC bought a new stake in Republic Services in the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in Republic Services in the 4th quarter valued at about $32,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RSG shares. Wolfe Research started coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. UBS Group lowered their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Robert W. Baird lowered their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Finally, Argus cut Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Stock Down 2.5%

Shares of NYSE RSG opened at $204.78 on Tuesday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $253.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $63.00 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 3.46 and a beta of 0.41. The business has a 50-day moving average of $209.57 and a 200-day moving average of $214.72.

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

Republic Services Announces Dividend

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 paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio is currently 35.87%.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 987,150 shares of company stock valued at $202,366,682 over the last ninety days. 0.12% of the stock is owned by corporate 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.