IFM Investors Pty Ltd Purchases 10,718 Shares of Republic Services, Inc. $RSG

IFM Investors Pty Ltd boosted its position in Republic Services, Inc. (NYSE:RSG) by 26.6% in the first quarter, Holdings Channel.com reports. The firm owned 51,005 shares of the business services provider’s stock after buying an additional 10,718 shares during the quarter. IFM Investors Pty Ltd’s holdings in Republic Services were worth $11,171,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RSG. State Street Corp increased its stake in shares of Republic Services by 1.7% in the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after acquiring an additional 166,474 shares in the last quarter. Capital World Investors boosted its stake in Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after acquiring an additional 1,899,183 shares in the last quarter. Morgan Stanley grew its holdings in Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Wellington Management Group LLP grew its holdings in Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after purchasing an additional 807,525 shares during the period. Finally, Norges Bank purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $617,165,000. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RSG shares. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. 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 note on Monday, May 11th. UBS Group lowered their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired a total of 987,150 shares of company stock worth $202,366,682 in the last 90 days. Company insiders own 0.12% of the company’s stock.

Republic Services Stock Performance

RSG stock opened at $214.75 on Thursday. The stock’s 50 day simple moving average is $207.59 and its 200 day simple moving average is $214.18. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The stock has a market capitalization of $66.07 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 3.51 and a beta of 0.40.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. As a group, research analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is 36.15%.

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.