United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $38.10 Million Investment in Republic Services, Inc. (NYSE:RSG)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 189,375 shares of the business services provider’s stock, valued at approximately $38,098,000. Republic Services makes up 1.5% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s investment portfolio, making the stock its 24th largest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned approximately 0.06% of Republic Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Penobscot Investment Management Company Inc. boosted its position in Republic Services by 4.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 12,104 shares of the business services provider’s stock valued at $2,435,000 after buying an additional 470 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Republic Services in the fourth quarter worth about $403,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Republic Services by 0.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 58,019 shares of the business services provider’s stock worth $11,672,000 after purchasing an additional 369 shares during the last quarter. PKS Advisory Services LLC acquired a new position in Republic Services during the 4th quarter valued at about $221,000. Finally, TIAA Trust National Association boosted its stake in shares of Republic Services by 5.6% in the 4th quarter. TIAA Trust National Association now owns 3,288 shares of the business services provider’s stock valued at $661,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Up 0.8 %

Republic Services stock opened at $237.91 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The company’s 50-day moving average is $226.10 and its 200-day moving average is $213.16. The firm has a market capitalization of $74.30 billion, a PE ratio of 36.66, a P/E/G ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RSG shares. The Goldman Sachs Group increased their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a research note on Tuesday, March 4th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services 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.