Republic Services, Inc. $RSG Stock Holdings Increased by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 898.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,388 shares of the business services provider’s stock after acquiring an additional 10,248 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Republic Services were worth $2,494,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RSG. State Street Corp raised its stake in shares of Republic Services by 1.7% during the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after purchasing an additional 166,474 shares in the last quarter. Capital World Investors grew its position in Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley increased its stake in Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after buying an additional 1,490,719 shares during the period. Wellington Management Group LLP raised its position in shares of Republic Services by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after buying an additional 807,525 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Republic Services in the 4th quarter worth approximately $617,165,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Trading Up 1.2%

Shares of NYSE:RSG opened at $217.27 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $66.85 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 3.53 and a beta of 0.40. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $246.25. The company has a 50 day moving average price of $207.83 and a 200 day moving average price of $214.21.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. On average, research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued 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 of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 36.15%.

Analysts Set New Price Targets

A number of research analysts recently commented on RSG shares. Citigroup lowered their price objective on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Wolfe Research assumed coverage on Republic Services in a research note on Friday, March 13th. They set a “peer perform” rating for the company. Robert W. Baird dropped their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. UBS Group cut their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lifted their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.26.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by company insiders.

Republic Services 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.