USS Investment Management Ltd Sells 11,989 Shares of Republic Services, Inc. $RSG

USS Investment Management Ltd trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 22.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,418 shares of the business services provider’s stock after selling 11,989 shares during the period. USS Investment Management Ltd’s holdings in Republic Services were worth $9,292,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. CBIZ Investment Advisory Services LLC grew its holdings in Republic Services by 11.3% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 45 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Republic Services by 0.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider’s stock worth $2,216,000 after buying an additional 48 shares during the period. Williams Jones Wealth Management LLC. lifted its position in shares of Republic Services by 2.6% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider’s stock valued at $408,000 after buying an additional 49 shares in the last quarter. ICONIQ Capital LLC grew its stake in shares of Republic Services by 3.3% during the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after acquiring an additional 50 shares during the period. Finally, Composition Wealth LLC grew its stake in shares of Republic Services by 1.4% during the 4th quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after acquiring an additional 52 shares during the period. 57.73% of the stock is owned by institutional investors.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price 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 $22,310,304,199.68. This represents a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $380,304.00. Following the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 in the last 90 days. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Citigroup reduced their price objective on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. UBS Group decreased their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Barclays upped their target price on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Wolfe Research assumed coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Stock Up 0.8%

Shares of NYSE RSG opened at $214.75 on Thursday. The stock has a market capitalization of $66.07 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 3.51 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. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm’s 50-day moving average price is $207.59 and its 200-day moving average price is $214.18.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion for 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 company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. On average, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

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