Northwestern Mutual Wealth Management Co. Increases Position in Republic Services, Inc. (NYSE:RSG)

Northwestern Mutual Wealth Management Co. lifted its position in Republic Services, Inc. (NYSE:RSG) by 6.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,776 shares of the business services provider’s stock after purchasing an additional 517 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Republic Services were worth $966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Republic Services by 4.0% in the second quarter. BlackRock Inc. now owns 20,712,888 shares of the business services provider’s stock worth $2,278,625,000 after buying an additional 792,584 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Republic Services by 147.2% in the 1st quarter. Nordea Investment Management AB now owns 5,033,908 shares of the business services provider’s stock valued at $499,062,000 after acquiring an additional 2,997,759 shares during the period. Geode Capital Management LLC boosted its holdings in Republic Services by 3.9% in the first quarter. Geode Capital Management LLC now owns 4,051,948 shares of the business services provider’s stock valued at $401,619,000 after purchasing an additional 153,717 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Republic Services by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,936,747 shares of the business services provider’s stock valued at $433,068,000 after purchasing an additional 23,126 shares during the last quarter. Finally, Parnassus Investments CA boosted its stake in shares of Republic Services by 11.1% during the 2nd quarter. Parnassus Investments CA now owns 3,046,446 shares of the business services provider’s stock worth $335,140,000 after acquiring an additional 304,276 shares in the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

A number of brokerages recently weighed in on RSG. The Goldman Sachs Group raised shares of Republic Services from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, August 24th. Oppenheimer raised their price target on shares of Republic Services from $117.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Raymond James reaffirmed an “outperform” rating and set a $116.14 price objective (down previously from $117.00) on shares of Republic Services in a research report on Monday, July 26th. Royal Bank of Canada raised their price target on shares of Republic Services from $111.00 to $118.00 and gave the company a “sector perform” rating in a research report on Friday, July 30th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on shares of Republic Services from $126.00 to $134.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $116.18.

Republic Services stock opened at $126.55 on Thursday. Republic Services, Inc. has a 52-week low of $86.18 and a 52-week high of $127.60. The firm has a fifty day moving average of $122.85 and a 200-day moving average of $113.91. The firm has a market capitalization of $40.29 billion, a P/E ratio of 36.05, a PEG ratio of 2.88 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.01.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 29th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.72 billion. Republic Services had a net margin of 10.64% and a return on equity of 15.01%. On average, research analysts expect that Republic Services, Inc. will post 4.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This is an increase from Republic Services’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. Republic Services’s dividend payout ratio is 51.69%.

About Republic Services

Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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