Daiwa Securities Group Inc. Grows Stake in Republic Services, Inc. (NYSE:RSG)

Daiwa Securities Group Inc. lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,124 shares of the business services provider’s stock after purchasing an additional 1,814 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Republic Services were worth $5,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. grew its stake in shares of Republic Services by 2.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after acquiring an additional 48 shares during the last quarter. Simmons Bank grew its position in Republic Services by 2.8% during the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares during the last quarter. Access Financial Services Inc. increased its stake in Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 51 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after buying an additional 52 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Republic Services by 16.5% during the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after buying an additional 54 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of RSG stock opened at $230.47 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm has a market cap of $71.97 billion, a P/E ratio of 35.51, a P/E/G ratio of 3.64 and a beta of 0.73. The firm’s 50 day moving average price is $220.75 and its 200-day moving average price is $211.38. Republic Services, Inc. has a one year low of $180.91 and a one year high of $240.95.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.01%. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Argus set a $260.00 target price on Republic Services in a research report on Tuesday, February 18th. Morgan Stanley raised their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Stifel Nicolaus upped their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Jefferies Financial Group raised their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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.