Nomura Asset Management Co. Ltd. Acquires 1,595 Shares of Republic Services, Inc. $RSG

Nomura Asset Management Co. Ltd. boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,823 shares of the business services provider’s stock after acquiring an additional 1,595 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Republic Services were worth $19,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock valued at $4,543,231,000 after purchasing an additional 170,548 shares during the period. Wellington Management Group LLP grew its position in Republic Services by 0.7% in the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after acquiring an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after acquiring an additional 17,711 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Republic Services by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,821,387 shares of the business services provider’s stock valued at $1,187,328,000 after acquiring an additional 144,003 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Republic Services by 4.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. Wells Fargo & Company started coverage on shares of Republic Services in a research note on Thursday, November 13th. They issued an “overweight” rating and a $238.00 target price for the company. Jefferies Financial Group set a $248.00 price target on Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Sanford C. Bernstein assumed coverage on Republic Services in a research report on Wednesday, November 12th. They issued a “market perform” rating and a $205.00 price objective for the company. Finally, Oppenheimer set a $256.00 target price on Republic Services in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.91.

Republic Services Stock Up 2.0%

NYSE:RSG opened at $213.97 on Wednesday. The company has a market cap of $66.24 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 3.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average price is $219.57 and its two-hundred day moving average price is $234.44. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75.

Republic Services (NYSE:RSG) last released its earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio is presently 37.20%.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.