AustralianSuper Pty Ltd Invests $812,000 in Republic Services, Inc. (NYSE:RSG)

AustralianSuper Pty Ltd acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,045 shares of the business services provider’s stock, valued at approximately $812,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its stake in Republic Services by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock worth $45,760,000 after purchasing an additional 19,414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Republic Services by 32.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock worth $18,052,000 after acquiring an additional 23,306 shares in the last quarter. PGGM Investments grew its holdings in shares of Republic Services by 264.3% in the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after purchasing an additional 6,415 shares in the last quarter. Forsta AP Fonden increased its position in Republic Services by 11.7% in the first quarter. Forsta AP Fonden now owns 45,000 shares of the business services provider’s stock worth $8,615,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after purchasing an additional 101,518 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RSG shares. Scotiabank began coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Morgan Stanley raised their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird increased their price target on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Raymond James dropped their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, CIBC increased their target price on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Trading Down 0.4 %

RSG opened at $198.00 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock’s fifty day moving average is $203.59 and its two-hundred day moving average is $196.66. The company has a market capitalization of $62.19 billion, a P/E ratio of 31.68, a PEG ratio of 3.17 and a beta of 0.69. Republic Services, Inc. has a 52 week low of $146.82 and a 52 week high of $208.69.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.62 by $0.19. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm posted $1.54 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 6.23 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.17%. Republic Services’s payout ratio is presently 37.12%.

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.