PGGM Investments Increases Holdings in Republic Services, Inc. (NYSE:RSG)

PGGM Investments grew its position in Republic Services, Inc. (NYSE:RSG) by 264.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,842 shares of the business services provider’s stock after buying an additional 6,415 shares during the quarter. PGGM Investments’ holdings in Republic Services were worth $1,718,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RSG. YHB Investment Advisors Inc. purchased a new position in shares of Republic Services during the 1st quarter worth approximately $29,000. EntryPoint Capital LLC purchased a new stake in shares of Republic Services during the first quarter worth about $29,000. Bogart Wealth LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its position in Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares during the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in Republic Services in the second quarter valued at $45,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the transaction, the director now owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Performance

RSG stock traded up $0.51 on Thursday, reaching $202.96. The company’s stock had a trading volume of 130,077 shares, compared to its average volume of 1,215,455. 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 current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $63.92 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 3.23 and a beta of 0.69. The firm has a fifty day moving average of $195.50 and a two-hundred day moving average of $188.78.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. Republic Services’s dividend payout ratio is 40.70%.

Analyst Ratings Changes

A number of research firms recently issued reports on RSG. Royal Bank of Canada boosted their target price on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Robert W. Baird boosted their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Raymond James dropped their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Oppenheimer cut their target price on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Republic Services has a consensus rating of “Hold” and a consensus price target of $211.00.

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.