DNB Asset Management AS Grows Stake in Republic Services, Inc. (NYSE:RSG)

DNB Asset Management AS raised its position in Republic Services, Inc. (NYSE:RSG) by 5.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,430 shares of the business services provider’s stock after purchasing an additional 2,021 shares during the period. DNB Asset Management AS’s holdings in Republic Services were worth $8,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Unigestion Holding SA boosted its stake in shares of Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after acquiring an additional 122,044 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of Republic Services by 52.3% during the fourth quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after buying an additional 73,651 shares in the last quarter. TCW Group Inc. acquired a new position in shares of Republic Services in the fourth quarter valued at approximately $17,903,000. Hsbc Holdings PLC boosted its position in Republic Services by 8.7% during the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after acquiring an additional 36,484 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Republic Services by 10.4% in the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after acquiring an additional 55,668 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Katharine Weymouth purchased 540 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now owns 540 shares in the company, valued at approximately $100,040.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Republic Services Stock Performance

NYSE:RSG traded up $1.55 during mid-day trading on Tuesday, hitting $196.70. The stock had a trading volume of 1,267,700 shares, compared to its average volume of 1,224,159. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $193.29 and a 200-day simple moving average of $187.40. The stock has a market capitalization of $61.78 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 3.22 and a beta of 0.69. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $206.54.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Analyst Ratings Changes

A number of research analysts have recently commented on RSG shares. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Scotiabank upped their price objective on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Oppenheimer reduced their target price on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. BMO Capital Markets upped their price target on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.