Republic Services, Inc. $RSG Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 11.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,009 shares of the business services provider’s stock after selling 4,290 shares during the period. Daiwa Securities Group Inc.’s holdings in Republic Services were worth $7,208,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Harold Davidson & Associates Inc. grew its stake in shares of Republic Services by 2.7% in the 4th quarter. Harold Davidson & Associates Inc. now owns 7,737 shares of the business services provider’s stock worth $1,640,000 after purchasing an additional 204 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Republic Services by 9.9% in the 4th quarter. Sivia Capital Partners LLC now owns 1,011 shares of the business services provider’s stock worth $214,000 after purchasing an additional 91 shares during the last quarter. Bancreek Capital Management LP acquired a new position in shares of Republic Services in the 4th quarter worth approximately $1,062,000. REAP Financial Group LLC grew its stake in shares of Republic Services by 21.2% in the 4th quarter. REAP Financial Group LLC now owns 560 shares of the business services provider’s stock worth $119,000 after purchasing an additional 98 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Republic Services by 8.3% in the 4th quarter. CIBC Asset Management Inc now owns 216,131 shares of the business services provider’s stock worth $45,746,000 after purchasing an additional 16,578 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $210.59 on Monday. Republic Services, Inc. has a one year low of $196.41 and a one year high of $255.47. The company has a 50-day moving average of $209.81 and a two-hundred day moving average of $214.79. The stock has a market cap of $64.79 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.46 and a beta of 0.41. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company posted $1.58 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued 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 is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Robert W. Baird lowered their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Wolfe Research initiated coverage on shares of Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Citigroup decreased their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a 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 an average rating of “Hold” and an average price target of $245.15.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 987,150 shares of company stock worth $202,366,682 in the last ninety days. Company insiders own 0.12% of the company’s stock.

About Republic Services

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.