AEGON ASSET MANAGEMENT UK Plc Buys 71,751 Shares of Republic Services, Inc. $RSG

Key Points

• AEGON Asset Management UK Plc increased its stake in Republic Services by 66.9% in Q1, buying 71,751 additional shares and bringing its total holdings to 178,993 shares worth about $39.2 million.
• Republic Services reported better-than-expected quarterly earnings, posting $1.70 EPS versus the $1.64 estimate and revenue of $4.11 billion, slightly above forecasts. Revenue rose 2.6% year over year.
• The company announced a quarterly dividend of $0.625 per share, payable July 15, which works out to an annualized $2.50 dividend and a 1.2% yield. Analysts currently rate the stock a “Moderate Buy” with a consensus target price of $243.26.

AEGON ASSET MANAGEMENT UK Plc boosted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 66.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 178,993 shares of the business services provider's stock after buying an additional 71,751 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.06% of Republic Services worth $39,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new position in Republic Services during the third quarter worth about $26,000. Ameriflex Group Inc. bought a new stake in Republic Services in the 3rd quarter worth about $29,000. Prosperity Bancshares Inc bought a new stake in Republic Services in the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Republic Services in the 4th quarter valued at about $32,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $204.87 on Friday. The company has a market capitalization of $63.03 billion, a P/E ratio of 29.39, a P/E/G ratio of 3.37 and a beta of 0.41. The business has a fifty day simple moving average of $207.44 and a two-hundred day simple moving average of $214.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $251.17.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is currently 35.87%.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The shares were 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 $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought 987,150 shares of company stock valued at $202,366,682 in the last quarter. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RSG. JPMorgan Chase & Co. boosted their target price on Republic Services from $233.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, April 10th. Barclays increased their price target on Republic Services from $227.00 to $233.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Wolfe Research initiated coverage on Republic Services in a report on Friday, March 13th. They set a "peer perform" rating on the stock. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Finally, Weiss Ratings lowered Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.26.

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.

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