Acadian Asset Management LLC Buys 37,837 Shares of Republic Services, Inc. (NYSE:RSG)

Acadian Asset Management LLC increased its stake in Republic Services, Inc. (NYSE:RSG) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572,873 shares of the business services provider’s stock after purchasing an additional 37,837 shares during the period. Acadian Asset Management LLC owned 0.18% of Republic Services worth $109,653,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. YHB Investment Advisors Inc. acquired a new position in Republic Services in the 1st quarter worth $29,000. Bogart Wealth LLC acquired a new position in Republic Services in the 4th quarter worth $30,000. Turtle Creek Wealth Advisors LLC bought a new stake in Republic Services during the 4th quarter worth about $34,000. Jones Financial Companies Lllp lifted its position in Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Republic Services during the 4th quarter worth about $37,000. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on RSG. The Goldman Sachs Group boosted their price target on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Royal Bank of Canada assumed coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target on the stock. Scotiabank upped their target price on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a report on Wednesday, May 1st. UBS Group upped their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Oppenheimer upped their target price on shares of Republic Services from $204.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.64.

Republic Services Price Performance

NYSE RSG traded down $1.11 on Friday, hitting $203.46. The stock had a trading volume of 1,141,994 shares, compared to its average volume of 1,244,342. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $206.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market capitalization of $64.08 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 3.42 and a beta of 0.69. The firm has a 50-day moving average of $191.34 and a 200-day moving average of $185.01.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. Equities analysts expect that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Tuesday, July 2nd were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, July 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Insiders Place Their Bets

In other news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth purchased 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares in the company, valued at $100,040.40. The disclosure for this purchase can be found here. 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.