Unisphere Establishment Makes New $6.24 Million Investment in Republic Services, Inc. (NYSE:RSG)

Unisphere Establishment acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,000 shares of the business services provider’s stock, valued at approximately $6,237,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arcadia Investment Management Corp MI grew its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd bought a new stake in Republic Services in the 4th quarter valued at $32,000. New Age Alpha Advisors LLC raised its stake in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after buying an additional 73 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Republic Services during the 4th quarter worth about $45,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Republic Services during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Republic Services Trading Up 0.6 %

Shares of Republic Services stock opened at $247.64 on Wednesday. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $237.54 and its 200-day moving average is $220.16. The stock has a market cap of $77.38 billion, a P/E ratio of 38.16, a P/E/G ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. Republic Services’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 EPS. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.94%. Republic Services’s dividend payout ratio (DPR) is 34.99%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RSG. Raymond James reaffirmed an “outperform” rating on shares of Republic Services in a report on Wednesday, April 16th. Jefferies Financial Group increased their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus boosted their target price on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. BMO Capital Markets lifted their price target on shares of Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective on the stock in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.00.

About Republic Services

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.