Resona Asset Management Co. Ltd. Invests $20.96 Million in Republic Services, Inc. (NYSE:RSG)

Resona Asset Management Co. Ltd. bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 104,116 shares of the business services provider's stock, valued at approximately $20,961,000.

Several other institutional investors also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI raised its stake in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after acquiring an additional 88 shares in the last quarter. R Squared Ltd bought a new position in shares of Republic Services in the fourth quarter valued at approximately $32,000. New Age Alpha Advisors LLC lifted its stake in shares of Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after buying an additional 73 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Republic Services during the 4th quarter worth $45,000. Finally, Bank of Jackson Hole Trust bought a new position in Republic Services in the 4th quarter worth $48,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Trading Up 0.6 %

RSG stock traded up $1.54 during trading on Friday, hitting $241.77. The company had a trading volume of 366,223 shares, compared to its average volume of 1,115,410. The firm has a 50-day moving average price of $232.75 and a 200-day moving average price of $216.39. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market cap of $75.50 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 3.64 and a beta of 0.62.

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Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the previous year, the business posted $1.41 EPS. As a group, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.96%. Republic Services's dividend payout ratio is presently 35.75%.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company's stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several research analyst reports. Morgan Stanley raised their price target on Republic Services from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Scotiabank increased their price objective on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, William Blair restated an "outperform" rating on shares of Republic Services in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $239.13.

Republic Services Company Profile

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.