Republic Services, Inc. $RSG Stock Position Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 43.8% during the 1st quarter, Holdings Channel reports. The fund owned 1,030,445 shares of the business services provider’s stock after purchasing an additional 314,093 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Republic Services were worth $225,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in RSG. Brighton Jones LLC grew its holdings in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after acquiring an additional 8,547 shares during the last quarter. Federated Hermes Inc. boosted its position in Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after acquiring an additional 3,303 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Republic Services by 3.6% during the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock worth $7,322,000 after purchasing an additional 1,044 shares during the period. Treasurer of the State of North Carolina grew its position in Republic Services by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after purchasing an additional 688 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after acquiring an additional 4,729 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

Republic Services stock opened at $216.79 on Friday. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The stock has a 50-day simple moving average of $212.24 and a 200 day simple moving average of $214.85. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $66.70 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 3.64 and a beta of 0.40.

Republic Services (NYSE:RSG) last announced its 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 company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio is currently 35.87%.

Insider Buying and Selling at Republic Services

In other news, 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 $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 987,150 shares of company stock valued at $202,366,682 over the last three months. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

RSG has been the topic of several recent analyst reports. UBS Group dropped their target price 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. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Barclays boosted their price objective on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Republic Services currently has a consensus 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.