Board of the Pension Protection Fund Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Board of the Pension Protection Fund purchased a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,100 shares of the business services provider's stock, valued at approximately $825,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Simmons Bank raised its holdings in Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider's stock worth $381,000 after acquiring an additional 51 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider's stock worth $1,024,000 after purchasing an additional 52 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider's stock worth $77,000 after purchasing an additional 54 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in Republic Services by 3.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider's stock valued at $310,000 after buying an additional 55 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Republic Services by 11.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider's stock worth $106,000 after buying an additional 55 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RSG shares. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an "outperform" rating on the stock. CIBC increased their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their price target on Republic Services from $217.00 to $220.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Finally, Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They issued a "sector perform" rating and a $224.00 price objective for the company. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.12.

Republic Services Price Performance

NYSE:RSG traded up $2.66 during mid-day trading on Wednesday, reaching $209.66. 1,207,005 shares of the company were exchanged, compared to its average volume of 1,046,123. Republic Services, Inc. has a 12 month low of $165.06 and a 12 month high of $220.58. The stock has a market cap of $65.66 billion, a PE ratio of 33.55, a PEG ratio of 3.30 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average of $209.10 and a 200 day moving average of $204.20.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.54 earnings per share. Republic Services's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.11%. Republic Services's dividend payout ratio is currently 37.12%.

Insider Buying and Selling at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company's stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Republic Services 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.