UniSuper Management Pty Ltd Raises Holdings in Republic Services, Inc. (NYSE:RSG)

UniSuper Management Pty Ltd raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,445 shares of the business services provider’s stock after buying an additional 2,339 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Republic Services were worth $3,510,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Republic Services by 37.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after purchasing an additional 4,827 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Republic Services by 13.0% during the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after buying an additional 13,138 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Republic Services in the fourth quarter valued at approximately $4,430,000. Czech National Bank boosted its position in Republic Services by 6.1% during the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock worth $8,879,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Hickory Point Bank & Trust purchased a new stake in Republic Services in the 4th quarter worth approximately $790,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several analyst reports. Jefferies Financial Group raised their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a report on Tuesday, March 4th. Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group lifted their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Performance

Republic Services stock opened at $238.37 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a one year low of $180.92 and a one year high of $241.09. The stock’s 50 day moving average price is $227.72 and its 200 day moving average price is $213.75. The firm has a market capitalization of $74.44 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73.

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

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 0.97%. Republic Services’s dividend payout ratio is presently 35.75%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

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.