Aigen Investment Management LP Takes Position in Republic Services, Inc. $RSG

Aigen Investment Management LP acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 7,514 shares of the business services provider’s stock, valued at approximately $1,592,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in Republic Services during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in Republic Services during the third quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in Republic Services during the third quarter valued at approximately $29,000. Sound Income Strategies LLC purchased a new stake in Republic Services during the fourth quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Republic Services during the fourth quarter valued at approximately $32,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction on 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 owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by company insiders.

Republic Services Stock Performance

RSG opened at $209.75 on Friday. The firm has a market cap of $64.53 billion, a P/E ratio of 30.09, a PEG ratio of 3.45 and a beta of 0.41. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $253.38. The company has a 50 day simple moving average of $208.84 and a two-hundred day simple moving average of $214.52. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date 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 is currently 36.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group reduced their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Barclays upped their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company upped their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Robert W. Baird reduced their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Finally, BMO Capital Markets dropped their price target on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $243.26.

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.