Dimensional Fund Advisors LP Increases Position in Republic Services, Inc. $RSG

Dimensional Fund Advisors LP lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,734,798 shares of the business services provider’s stock after buying an additional 131,298 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.56% of Republic Services worth $380,008,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services during the third quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new position in Republic Services in the 4th quarter worth approximately $25,000. Prosperity Bancshares Inc bought a new position in Republic Services in the 4th quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new stake in Republic Services during the 4th quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Republic Services during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 2.8%

RSG stock opened at $214.37 on Wednesday. The firm has a fifty day moving average price of $211.64 and a 200 day moving average price of $214.75. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $246.25. The firm has a market cap of $65.95 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.69 and a beta of 0.40. 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 (NYSE:RSG) last released its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate 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 quarter last year, the business earned $1.58 earnings per share. Republic Services’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a $0.625 dividend. The ex-dividend date of this dividend was 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%.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of Republic Services stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research reports. Royal Bank Of Canada upped 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. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. UBS Group dropped their price objective 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. Robert W. Baird cut their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, Barclays lifted their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Company 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.