AIA Group Ltd boosted its stake in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) by 49.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,960 shares of the business services provider’s stock after buying an additional 650 shares during the quarter. AIA Group Ltd’s holdings in Republic Services were worth $260,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Republic Services by 2.3% in the 4th quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider’s stock valued at $2,880,704,000 after purchasing an additional 466,966 shares during the period. State Street Corp lifted its stake in shares of Republic Services by 0.4% in the 4th quarter. State Street Corp now owns 10,143,176 shares of the business services provider’s stock valued at $1,419,062,000 after purchasing an additional 42,050 shares during the period. Nordea Investment Management AB lifted its stake in shares of Republic Services by 5.6% in the 1st quarter. Nordea Investment Management AB now owns 4,967,419 shares of the business services provider’s stock valued at $670,304,000 after purchasing an additional 264,112 shares during the period. Geode Capital Management LLC lifted its stake in shares of Republic Services by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider’s stock valued at $620,473,000 after purchasing an additional 64,679 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Republic Services by 15.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,192,860 shares of the business services provider’s stock valued at $291,079,000 after purchasing an additional 295,152 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Oppenheimer set a $139.00 price target on Republic Services in a research note on Tuesday, July 19th. Raymond James upped their price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Morgan Stanley upped their price target on Republic Services from $142.00 to $147.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 20th. Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $150.00 in a research note on Friday, May 13th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a report on Thursday, June 16th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $142.33.
Republic Services Stock Performance
Republic Services (NYSE:RSG – Get Rating) last released its earnings results on Thursday, August 4th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.14. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.30 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. Republic Services’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. As a group, sell-side analysts expect that Republic Services, Inc. will post 4.67 earnings per share for the current year.
Republic Services Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be issued a $0.495 dividend. The ex-dividend date is Friday, September 30th. This is a positive change from Republic Services’s previous quarterly dividend of $0.46. This represents a $1.98 annualized dividend and a dividend yield of 1.40%. Republic Services’s dividend payout ratio is currently 43.60%.
In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the transaction, the chief operating officer now directly owns 19,675 shares of the company’s stock, valued at $2,659,863.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Republic Services news, CAO Brian A. Goebel sold 347 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the sale, the chief accounting officer now owns 6,186 shares in the company, valued at $835,171.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Timothy E. Stuart sold 15,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the completion of the sale, the chief operating officer now owns 19,675 shares in the company, valued at approximately $2,659,863.25. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
About Republic Services
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
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