Arrowstreet Capital Limited Partnership Buys 192,632 Shares of Republic Services, Inc. $RSG

Key Points

• Arrowstreet Capital increased its stake in Republic Services by 36.8% in the fourth quarter, buying 192,632 additional shares and bringing its total holding to 716,352 shares worth about $151.8 million.
• Republic Services reported better-than-expected quarterly earnings of $1.70 per share on revenue of $4.11 billion, with revenue up 2.6% year over year. Analysts now expect the company to earn $7.28 per share for the full year.
• The company declared a quarterly dividend of $0.625 per share, payable July 15, implying an annualized dividend of $2.50 and a yield of about 1.2%. Meanwhile, analysts remain split, with a consensus rating of Moderate Buy and a target price of $243.26.

Arrowstreet Capital Limited Partnership raised its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 36.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 716,352 shares of the business services provider's stock after purchasing an additional 192,632 shares during the period. Arrowstreet Capital Limited Partnership owned 0.23% of Republic Services worth $151,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Republic Services in the fourth quarter valued at $110,000. Aptus Capital Advisors LLC raised its stake in Republic Services by 6.5% during the fourth quarter. Aptus Capital Advisors LLC now owns 9,418 shares of the business services provider's stock valued at $1,996,000 after purchasing an additional 572 shares in the last quarter. FORA Capital LLC lifted its position in Republic Services by 88.3% during the fourth quarter. FORA Capital LLC now owns 23,625 shares of the business services provider's stock valued at $5,007,000 after purchasing an additional 11,076 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Republic Services by 479.2% in the 4th quarter. Kestra Advisory Services LLC now owns 25,380 shares of the business services provider's stock worth $5,379,000 after buying an additional 20,998 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of Republic Services by 96.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 352 shares of the business services provider's stock worth $75,000 after buying an additional 173 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction on Thursday, June 11th. The stock was 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. This represents a 96.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business's stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the purchase, the insider owned 110,803,982 shares of the company's stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 987,150 shares of company stock valued at $202,366,682 in the last quarter. 0.12% of the stock is owned by company insiders.

Republic Services Stock Performance

Shares of Republic Services stock opened at $207.96 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock's fifty day moving average is $208.53 and its two-hundred day moving average is $214.45. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $252.45. The company has a market capitalization of $63.98 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 3.45 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The business's revenue was up 2.6% on a year-over-year basis. As a group, analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

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

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Citigroup lowered their price target on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. UBS Group decreased their price objective on Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 12th. Royal Bank Of Canada lifted 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. Wells Fargo & Company boosted their target price on Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. Finally, Robert W. Baird lowered their price target on Republic Services from $242.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average 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.

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