81,374 Republic Services, Inc. $RSG Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its Republic Services stake by 30.2%, buying 81,374 shares in the third quarter and bringing its holding to 350,769 shares, valued at about $73.6 million.
• Republic Services reported quarterly EPS of $1.94, slightly above estimates, and revenue of $4.56 billion, up 8.2% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $252.10; the company also announced a quarterly dividend of $0.67 per share.

Russell Investments Group Ltd. increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 350,769 shares of the business services provider's stock after buying an additional 81,374 shares during the period. Russell Investments Group Ltd. owned 0.12% of Republic Services worth $73,621,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Republic Services during the second quarter worth approximately $3,798,092,000. Bank of America Corp DE acquired a new position in shares of Republic Services in the second quarter valued at approximately $682,573,000. Legal & General Group Plc bought a new position in shares of Republic Services during the second quarter worth approximately $245,506,000. Deutsche Bank AG bought a new position in shares of Republic Services during the second quarter worth approximately $236,628,000. Finally, Bank of New York Mellon Corp acquired a new stake in Republic Services during the 2nd quarter worth approximately $220,527,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

Shares of NYSE RSG traded down $0.27 during midday trading on Friday, reaching $252.73. The company's stock had a trading volume of 962,828 shares, compared to its average volume of 1,430,155. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.75 and a current ratio of 0.75. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $255.39. The business's 50 day moving average price is $227.62 and its two-hundred day moving average price is $218.52. The company has a market cap of $76.99 billion, a P/E ratio of 34.96, a P/E/G ratio of 4.20 and a beta of 0.32.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.01. The business had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $4.42 billion. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. On average, analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services's dividend payout ratio is presently 37.07%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RSG. Sanford C. Bernstein boosted their price target on Republic Services from $220.00 to $227.00 and gave the company a "market perform" rating in a research note on Monday, August 10th. Morgan Stanley lowered their price objective on Republic Services from $232.00 to $219.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 13th. Barclays lifted their target price on Republic Services from $240.00 to $254.00 and gave the stock an "equal weight" rating in a report on Monday, November 2nd. Royal Bank Of Canada lifted their target price on Republic Services from $272.00 to $277.00 and gave the stock an "outperform" rating in a report on Friday, October 30th. Finally, Weiss Ratings raised shares of Republic Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, November 9th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.10.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. bought 324,810 shares of Republic Services stock in a transaction dated Friday, September 11th. The shares were bought at an average cost of $222.89 per share, with a total value of $72,396,900.90. Following the acquisition, the insider owned 117,058,444 shares in the company, valued at $26,091,156,583.16. This trade represents a 0.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Brian Bales sold 3,400 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total value of $829,600.00. Following the completion of the transaction, the executive vice president owned 17,616 shares in the company, valued at $4,298,304. The trade was a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have bought 5,240,588 shares of company stock valued at $1,161,649,826. Corporate insiders own 0.12% of the company's stock.

Republic Services Profile

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

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