UniSuper Management Pty Ltd Purchases 5,877 Shares of Republic Services, Inc. (NYSE:RSG)

UniSuper Management Pty Ltd boosted its stake in Republic Services, Inc. (NYSE:RSG) by 292.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,887 shares of the business services provider’s stock after purchasing an additional 5,877 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Republic Services were worth $1,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RSG. Capital World Investors boosted its position in shares of Republic Services by 416.9% during the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after buying an additional 5,292,862 shares during the period. Norges Bank bought a new position in shares of Republic Services during the fourth quarter worth approximately $358,837,000. TD Asset Management Inc increased its stake in shares of Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after purchasing an additional 1,393,918 shares during the period. M&G Plc acquired a new position in Republic Services in the 1st quarter valued at $130,892,000. Finally, Corient Private Wealth LLC raised its holdings in Republic Services by 136.5% in the 4th quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock valued at $59,681,000 after acquiring an additional 208,902 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE RSG traded down $6.04 on Tuesday, hitting $199.04. 2,080,845 shares of the stock traded hands, compared to its average volume of 1,194,680. The business’s fifty day moving average is $191.92 and its two-hundred day moving average is $185.55. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $206.54. The firm has a market capitalization of $62.68 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.45 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, July 2nd. Republic Services’s payout ratio is currently 37.54%.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth purchased 540 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Katharine Weymouth acquired 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the transaction, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on RSG shares. The Goldman Sachs Group boosted their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Scotiabank boosted their price objective on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. StockNews.com raised Republic Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 16th. UBS Group upped their price target on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.46.

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.