Republic Services, Inc. (NYSE:RSG) Shareholders Set to Receive $0.67 Quarterly Dividend

Key Points

• Republic Services declared a quarterly dividend of $0.67 per share, payable January 15 to shareholders of record January 4. The dividend implies an annualized payout of $2.68 and a 1.1% yield.
• The company has increased its dividend for 22 consecutive years, with a current earnings payout ratio of 35.1%, indicating the dividend is well covered.
• Republic Services beat quarterly expectations with $1.94 in EPS and $4.56 billion in revenue, while revenue increased 8.2% year over year. Institutional investors own 57.73% of the company, and insiders bought more than $1.38 billion of stock over the past three months.

Republic Services, Inc. (NYSE:RSG - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Monday, January 4th will be given a dividend of $0.67 per share by the business services provider on Friday, January 15th. This represents a $2.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, January 4th.

Republic Services has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Republic Services has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Republic Services to earn $8.02 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 33.4%.

Republic Services Price Performance

RSG stock opened at $236.43 on Friday. Republic Services has a 1 year low of $196.41 and a 1 year high of $243.22. The company has a 50 day simple moving average of $221.99 and a 200 day simple moving average of $216.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $72.40 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 3.75 and a beta of 0.39.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.01. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.42 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $1.90 EPS. Research analysts anticipate that Republic Services will post 7.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. acquired 324,810 shares of the stock in a transaction on Friday, September 11th. The shares were acquired at an average price of $222.89 per share, for a total transaction of $72,396,900.90. Following the transaction, the insider owned 117,058,444 shares in the company, valued at approximately $26,091,156,583.16. This trade represents a 0.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 6,254,462 shares of company stock valued at $1,380,321,958 in the last three months. Company insiders own 0.12% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RSG. Integrity Alliance LLC. lifted its position in Republic Services by 7.4% during the 3rd quarter. Integrity Alliance LLC. now owns 1,050 shares of the business services provider's stock valued at $220,000 after purchasing an additional 72 shares during the period. Gerber Kawasaki Wealth & Investment Management increased its position in shares of Republic Services by 143.3% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 3,226 shares of the business services provider's stock worth $677,000 after purchasing an additional 1,900 shares during the last quarter. Columbia Bank lifted its stake in Republic Services by 9.2% in the 3rd quarter. Columbia Bank now owns 2,995 shares of the business services provider's stock valued at $629,000 after purchasing an additional 252 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Republic Services during the 3rd quarter worth approximately $10,365,000. Finally, Cidel Asset Management Inc. acquired a new position in Republic Services in the 3rd quarter valued at $208,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Company Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.

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