iA Global Asset Management Inc. Increases Stock Holdings in Republic Services, Inc. $RSG

iA Global Asset Management Inc. boosted its position in Republic Services, Inc. (NYSE:RSG) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,200 shares of the business services provider’s stock after purchasing an additional 10,000 shares during the period. iA Global Asset Management Inc.’s holdings in Republic Services were worth $13,606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RSG. ICONIQ Capital LLC boosted its stake in shares of Republic Services by 3.3% in the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock worth $384,000 after buying an additional 50 shares during the last quarter. Prospera Financial Services Inc boosted its position in Republic Services by 1.1% during the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock worth $1,094,000 after purchasing an additional 51 shares in the last quarter. Composition Wealth LLC boosted its position in Republic Services by 1.4% during the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock worth $804,000 after purchasing an additional 52 shares in the last quarter. Florida Trust Wealth Management Co boosted its position in Republic Services by 5.4% during the third quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock worth $241,000 after purchasing an additional 54 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC boosted its position in Republic Services by 0.9% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock worth $1,393,000 after purchasing an additional 54 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired 499,150 shares of company stock worth $100,527,357 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wolfe Research assumed coverage on Republic Services in a report on Friday, March 13th. They set a “peer perform” rating for the company. Morgan Stanley reduced their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. JPMorgan Chase & Co. increased their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Finally, UBS Group reduced their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $245.15.

Republic Services Trading Down 0.3%

Shares of Republic Services stock opened at $208.12 on Friday. The firm has a market capitalization of $64.03 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 3.43 and a beta of 0.43. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $258.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.64 and a current ratio of 0.67. The stock has a 50 day moving average of $214.67 and a 200 day moving average of $214.89.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the business posted $1.58 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.