Jupiter Asset Management Ltd. Raises Stock Holdings in Republic Services, Inc. $RSG

Jupiter Asset Management Ltd. increased its position in Republic Services, Inc. (NYSE:RSG) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,088 shares of the business services provider’s stock after acquiring an additional 11,563 shares during the period. Jupiter Asset Management Ltd.’s holdings in Republic Services were worth $26,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RSG. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the 4th quarter worth about $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after buying an additional 67 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Republic Services in the 3rd quarter worth about $29,000. Finally, Sound Income Strategies LLC acquired a new stake in Republic Services in the 4th quarter worth about $32,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RSG shares. UBS Group lowered their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Robert W. Baird lowered their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. BMO Capital Markets lowered their price objective on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Morgan Stanley lowered their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $245.15.

Republic Services Stock Down 1.7%

RSG stock opened at $200.32 on Friday. The firm has a market cap of $61.63 billion, a PE ratio of 28.74, a PEG ratio of 3.35 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50 day moving average price is $211.11 and its 200-day moving average price is $214.80. Republic Services, Inc. has a one year low of $196.41 and a one year high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 EPS. On average, equities research analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Announces Dividend

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

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by insiders.

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.