Republic Services, Inc. $RSG Stake Boosted by Bank of Nova Scotia

Bank of Nova Scotia boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 68.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396,491 shares of the business services provider’s stock after purchasing an additional 160,456 shares during the quarter. Bank of Nova Scotia’s holdings in Republic Services were worth $86,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RSG. Laurel Wealth Advisors LLC bought a new stake in shares of Republic Services during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in Republic Services in the third quarter worth about $26,000. Prosperity Bancshares Inc acquired a new position in Republic Services in the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC bought a new position in shares of Republic Services during the fourth quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Republic Services during the 4th quarter worth approximately $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction dated Wednesday, May 13th. The stock was 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 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 position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by corporate insiders.

Republic Services Stock Up 0.3%

RSG opened at $217.14 on Friday. The stock’s 50 day moving average price is $212.06 and its 200 day moving average price is $214.84. 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 stock has a market cap of $66.80 billion, a P/E ratio of 31.15, a P/E/G ratio of 3.63 and a beta of 0.40. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 35.87%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RSG. Citigroup boosted their price objective on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Barclays increased their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating 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 on the stock in a report on Tuesday, May 12th. Finally, Robert W. Baird cut their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.89.

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.