Amundi Has $298.71 Million Stock Position in Republic Services, Inc. $RSG

Key Points

• Amundi increased its Republic Services stake by 9.3% in the first quarter, adding 116,314 shares to own 1.36 million shares valued at approximately $298.7 million. Institutional investors collectively own 57.73% of RSG.
• Republic Services reported first-quarter earnings of $1.70 per share, exceeding estimates of $1.64, while revenue rose 2.6% year over year to $4.11 billion. The company also maintains a quarterly dividend of $0.625 per share, equivalent to a 1.2% annual yield.
• Analysts hold a “Moderate Buy” consensus rating, with 11 Buy and 11 Hold ratings and an average price target of $243.89, versus a recent share price of $211.32.

Amundi boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,363,858 shares of the business services provider's stock after purchasing an additional 116,314 shares during the quarter. Amundi owned about 0.44% of Republic Services worth $298,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services during the 3rd quarter worth approximately $26,000. Prosperity Bancshares Inc bought a new position in Republic Services in the fourth quarter worth approximately $30,000. Sound Income Strategies LLC acquired a new stake in Republic Services in the fourth quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Republic Services during the fourth quarter valued at approximately $32,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

RSG opened at $211.32 on Friday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $238.62. 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 has a market capitalization of $65.01 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 3.66 and a beta of 0.40. The firm's fifty day moving average price is $212.54 and its two-hundred day moving average price is $215.01.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the firm earned $1.58 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued 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 was Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is 35.87%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Citigroup boosted their price target on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Robert W. Baird lowered their price objective on shares of Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. UBS Group dropped their price objective 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. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Republic Services in a research report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $243.89.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider owned 110,803,982 shares of the company's stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares of the company's stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 987,150 shares of company stock worth $202,366,682 over the last quarter. 0.12% of the stock is currently owned by corporate insiders.

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.

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