AEGON ASSET MANAGEMENT UK Plc Boosts Position in Republic Services, Inc. $RSG

AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 66.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 178,993 shares of the business services provider’s stock after acquiring an additional 71,751 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Republic Services were worth $39,201,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in Republic Services during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in Republic Services in the 3rd quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in Republic Services in the 3rd quarter valued at $29,000. Prosperity Bancshares Inc purchased a new position in shares of Republic Services during the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Republic Services during the 4th quarter valued at $32,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $204.87 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $251.17. The firm has a market cap of $63.03 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 3.37 and a beta of 0.41. The business has a 50 day moving average price of $207.44 and a 200-day moving average price of $214.17.

Republic Services (NYSE:RSG) last issued its earnings results 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. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 earnings per share. Equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The company 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. 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 payout ratio is presently 35.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Royal Bank Of Canada lifted their target price on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. UBS Group cut their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.26.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. The trade was a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have bought 987,150 shares of company stock valued at $202,366,682. Insiders own 0.12% of the company’s stock.

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.