Resona Asset Management Co. Ltd. Has $21.88 Million Stake in Republic Services, Inc. $RSG

Resona Asset Management Co. Ltd. trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,089 shares of the business services provider’s stock after selling 4,593 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Republic Services were worth $21,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ICONIQ Capital LLC boosted its position in Republic Services by 3.3% during the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock worth $384,000 after purchasing an additional 50 shares during the period. Prospera Financial Services Inc boosted its position in Republic Services by 1.1% during the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock worth $1,094,000 after purchasing an additional 51 shares during the period. Composition Wealth LLC boosted its position in Republic Services by 1.4% during the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock worth $804,000 after purchasing an additional 52 shares during the period. AAFMAA Wealth Management & Trust LLC boosted its position in Republic Services by 0.9% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock worth $1,393,000 after purchasing an additional 54 shares during the period. Finally, Florida Trust Wealth Management Co boosted its position in Republic Services by 5.4% during the third quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock worth $241,000 after purchasing an additional 54 shares during the period. 57.73% of the stock is owned by institutional investors.

More Republic Services News

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Republic Services in a research report on Friday, March 13th. They set a “peer perform” rating for the company. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Scotiabank reduced their target price on shares of Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. Barclays boosted their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Citigroup reduced their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $245.15.

Republic Services Trading Up 0.2%

Shares of Republic Services stock opened at $214.94 on Wednesday. The firm has a 50-day moving average of $214.00 and a 200-day moving average of $214.86. The stock has a market cap of $66.13 billion, a PE ratio of 30.84, a PEG ratio of 3.53 and a beta of 0.43. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67.

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

Republic Services Dividend Announcement

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

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 987,150 shares of company stock valued at $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.