Allstate Corp Boosts Holdings in Republic Services, Inc. $RSG

Allstate Corp boosted its position in Republic Services, Inc. (NYSE:RSG) by 104.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,064 shares of the business services provider’s stock after buying an additional 8,211 shares during the period. Allstate Corp’s holdings in Republic Services were worth $3,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Bessemer Group Inc. grew its position in Republic Services by 7,683.2% in the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock valued at $169,768,000 after buying an additional 730,287 shares during the last quarter. SG Americas Securities LLC grew its position in Republic Services by 1,337.9% in the 4th quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock valued at $121,995,000 after buying an additional 535,603 shares during the last quarter. Man Group plc grew its position in Republic Services by 380.1% in the 3rd quarter. Man Group plc now owns 667,603 shares of the business services provider’s stock valued at $153,202,000 after buying an additional 528,540 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Republic Services by 93.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 907,735 shares of the business services provider’s stock worth $208,307,000 after purchasing an additional 438,219 shares in the last quarter. Finally, Caisse de depot et placement du Quebec boosted its position in shares of Republic Services by 49.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,326,827 shares of the business services provider’s stock worth $304,480,000 after purchasing an additional 437,166 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on RSG. Morgan Stanley decreased their target price on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. BMO Capital Markets decreased their target price on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Finally, Robert W. Baird decreased their target price 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 research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Republic Services has a consensus rating of “Hold” and a consensus price target of $245.15.

Republic Services Trading Down 0.7%

NYSE:RSG opened at $205.68 on Thursday. The company has a market capitalization of $63.28 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75. The stock has a fifty day simple moving average of $211.97 and a 200-day simple moving average of $214.92.

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 business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 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, for a total transaction of $74,019,840.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

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.