Aigen Investment Management LP Acquires Shares of 7,514 Republic Services, Inc. $RSG

Key Points

• Aigen Investment Management disclosed a new fourth-quarter stake in Republic Services, buying 7,514 shares valued at about $1.59 million.
• Republic Services reported better-than-expected quarterly results, posting EPS of $1.70 versus the $1.64 estimate and revenue of $4.11 billion, with revenue up 2.6% year over year.
• The company also announced a quarterly dividend of $0.625 per share, equal to a $2.50 annualized payout and a 1.2% yield, while analysts currently rate the stock Moderate Buy with a consensus target price of $243.26.

Aigen Investment Management LP acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,514 shares of the business services provider's stock, valued at approximately $1,592,000.

Other hedge funds have also recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new position in shares of Republic Services in the third quarter valued at about $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services in the fourth quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in shares of Republic Services during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC bought a new stake in shares of Republic Services during the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Republic Services during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Trading Up 0.8%

NYSE:RSG opened at $209.75 on Friday. Republic Services, Inc. has a one year low of $196.41 and a one year high of $253.38. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company's 50-day simple moving average is $208.84 and its 200 day simple moving average is $214.52. The firm has a market capitalization of $64.53 billion, a P/E ratio of 30.09, a PEG ratio of 3.45 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. Republic Services's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services's payout ratio is 36.15%.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services 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 directly owned 58 shares of the company's stock, valued at $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 987,150 shares of company stock valued at $202,366,682 over the last ninety days. Corporate insiders own 0.12% of the company's stock.

Analyst Ratings Changes

RSG has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of 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 target price on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. Barclays lifted their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Wells Fargo & Company lifted their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada lifted their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.26.

Republic Services Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.