Arrowstreet Capital Limited Partnership Boosts Stake in Republic Services, Inc. $RSG

Arrowstreet Capital Limited Partnership raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 36.8% during the 4th quarter, Holdings Channel reports. The fund owned 716,352 shares of the business services provider’s stock after purchasing an additional 192,632 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Republic Services were worth $151,816,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions 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 position in Republic Services during the 3rd quarter worth $26,000. Ameriflex Group Inc. acquired a new position in Republic Services during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC acquired a new position in Republic Services during the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Republic Services in the fourth quarter valued at about $32,000. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Down 0.9%

NYSE RSG opened at $207.96 on Tuesday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $252.45. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $63.98 billion, a PE ratio of 29.84, a P/E/G ratio of 3.45 and a beta of 0.41. The company has a fifty day moving average of $208.53 and a 200 day moving average of $214.45.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during 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 company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Research analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed 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. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 36.15%.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The stock was bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s 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 completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 987,150 shares of company stock worth $202,366,682 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

RSG has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Republic Services in a research note on Friday, March 13th. They set a “peer perform” rating on the stock. Barclays lifted their target price on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Robert W. Baird cut their price target on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. UBS Group decreased their price target 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. Finally, BMO Capital Markets dropped their price objective on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price 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.