AustralianSuper Pty Ltd Takes Position in Republic Services, Inc. (NYSE:RSG)

AustralianSuper Pty Ltd purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,045 shares of the business services provider's stock, valued at approximately $812,000.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc increased its holdings in shares of Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider's stock worth $329,680,000 after buying an additional 1,393,918 shares during the last quarter. Capital World Investors raised its position in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. M&G Plc purchased a new position in shares of Republic Services in the 1st quarter worth about $130,892,000. International Assets Investment Management LLC raised its holdings in shares of Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider's stock valued at $108,183,000 after buying an additional 538,010 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in Republic Services by 16.9% in the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider's stock worth $241,697,000 after buying an additional 182,645 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on RSG. William Blair began coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating on the stock. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They set a "sector perform" rating and a $224.00 price objective on the stock. Morgan Stanley boosted 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. Oppenheimer lifted their price target on Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, TD Cowen increased their price objective on Republic Services from $195.00 to $200.00 and gave the company a "hold" rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $215.71.

Republic Services Stock Up 0.3 %

Shares of RSG traded up $0.58 on Friday, reaching $198.58. The stock had a trading volume of 1,010,492 shares, compared to its average volume of 1,129,105. The company has a 50-day simple moving average of $203.43 and a 200-day simple moving average of $196.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.64. The firm has a market capitalization of $62.37 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.17 and a beta of 0.69. Republic Services, Inc. has a 12-month low of $148.36 and a 12-month high of $208.69.

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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.19. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.54 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

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.