Daiwa Securities Group Inc. Purchases 2,786 Shares of Republic Services, Inc. (NYSE:RSG)

Daiwa Securities Group Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,310 shares of the business services provider's stock after acquiring an additional 2,786 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Republic Services were worth $5,284,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RSG. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Republic Services in the third quarter valued at $6,102,000. Lifeworks Advisors LLC grew its holdings in shares of Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider's stock valued at $4,312,000 after purchasing an additional 19,698 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Republic Services by 15.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider's stock worth $1,137,000 after purchasing an additional 746 shares during the period. PGGM Investments lifted its holdings in shares of Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider's stock worth $1,718,000 after purchasing an additional 6,415 shares during the last quarter. Finally, YCG LLC boosted its position in Republic Services by 2.2% during the 3rd quarter. YCG LLC now owns 208,232 shares of the business services provider's stock valued at $41,821,000 after purchasing an additional 4,428 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Performance

NYSE:RSG opened at $218.80 on Wednesday. The firm has a market capitalization of $68.52 billion, a PE ratio of 35.01, a PEG ratio of 3.33 and a beta of 0.70. Republic Services, Inc. has a 1 year low of $159.10 and a 1 year high of $219.94. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm's fifty day simple moving average is $205.15 and its 200 day simple moving average is $199.43.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was 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 directly owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RSG. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 target price on the stock. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating for the company. Oppenheimer boosted their price objective on Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Morgan Stanley raised their target price on Republic Services from $208.00 to $217.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $215.71.

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.