Republic Services, Inc. $RSG Shares Newly Bought by Fifth Third Bancorp

Fifth Third Bancorp purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, HoldingsChannel reports. The firm purchased 86,133 shares of the business services provider’s stock, valued at approximately $18,077,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System boosted its stake in Republic Services by 19.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,465 shares of the business services provider’s stock valued at $2,616,000 after buying an additional 1,992 shares in the last quarter. Ritholtz Wealth Management grew its position in Republic Services by 4.4% in the third quarter. Ritholtz Wealth Management now owns 8,672 shares of the business services provider’s stock valued at $1,820,000 after acquiring an additional 369 shares during the period. Jacobi Capital Management LLC acquired a new position in Republic Services during the third quarter worth $51,000. Lido Advisors LLC boosted its stake in shares of Republic Services by 24.2% in the 3rd quarter. Lido Advisors LLC now owns 8,890 shares of the business services provider’s stock valued at $1,866,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Republic Services in the 3rd quarter worth about $214,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

RSG stock opened at $252.73 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.14. The business’s 50-day moving average price is $227.62 and its two-hundred day moving average price is $218.52. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $255.39. The firm has a market cap of $76.99 billion, a PE ratio of 34.96, a P/E/G ratio of 4.20 and a beta of 0.32.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.68 dividend on an annualized basis and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 37.07%.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of recent analyst reports. Argus raised Republic Services from a “hold” rating to a “buy” rating and set a $275.00 price target for the company in a report on Thursday. Robert W. Baird increased their target price on Republic Services from $242.00 to $245.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Canadian Imperial Bank of Commerce lowered their target price on Republic Services from $249.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, October 8th. Deutsche Bank lowered their target price on Republic Services from $270.00 to $258.00 in a research note on Friday, October 9th. Finally, Citigroup lifted their price target on Republic Services from $259.00 to $281.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.10.

Insider Buying and Selling at Republic Services

In related news, EVP Brian A. Bales sold 3,400 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total transaction of $829,600.00. Following the completion of the transaction, the executive vice president directly owned 17,616 shares of the company’s stock, valued at approximately $4,298,304. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 324,810 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average cost of $222.89 per share, with a total value of $72,396,900.90. Following the completion of the purchase, the insider directly owned 117,058,444 shares of the company’s stock, valued at $26,091,156,583.16. This represents a 0.28% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 5,240,588 shares of company stock worth $1,161,649,826 over the last quarter. Company insiders own 0.12% of the company’s stock.

Republic Services Company Profile

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.