Bessemer Group Inc. Acquires 453,336 Shares of Republic Services, Inc. $RSG

Bessemer Group Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 55.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,274,507 shares of the business services provider’s stock after purchasing an additional 453,336 shares during the period. Bessemer Group Inc. owned about 0.41% of Republic Services worth $279,143,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC increased its stake in shares of Republic Services by 11.3% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock worth $94,000 after purchasing an additional 45 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Republic Services by 0.5% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider’s stock valued at $2,216,000 after purchasing an additional 48 shares during the period. Williams Jones Wealth Management LLC. increased its position in Republic Services by 2.6% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider’s stock worth $408,000 after buying an additional 49 shares during the last quarter. ICONIQ Capital LLC raised its stake in shares of Republic Services by 3.3% in the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after buying an additional 50 shares during the period. Finally, Composition Wealth LLC lifted its position in shares of Republic Services by 1.4% during the 4th quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after buying an additional 52 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have bought 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $224.26 on Friday. The firm has a 50 day moving average of $210.48 and a 200-day moving average of $214.64. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $69.00 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a $0.625 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Analysts Set New Price Targets

RSG has been the topic of a number of research reports. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Citigroup lifted their target price on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Barclays raised their price objective on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, UBS Group lowered their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $243.89.

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.