Aware Super Pty Ltd as trustee of Aware Super Makes New $3.50 Million Investment in Republic Services, Inc. $RSG

Key Points

• Aware Super disclosed a new first-quarter stake in Republic Services, buying 15,985 shares worth about $3.5 million. Other institutional investors also added small positions, and institutions now own 57.73% of the company.
• Insider activity was mixed: Cascade Investment bought 60,700 shares for about $12.95 million, while Director Sandra M. Volpe sold 1,800 shares. Over the last three months, insiders overall purchased 987,150 shares valued at about $202.4 million.
• Republic Services posted solid quarterly results, with EPS of $1.70 beating estimates and revenue of $4.11 billion slightly above expectations. The company also paid a quarterly dividend of $0.625 per share, and analysts currently rate the stock Moderate Buy with an average price target of $243.89.

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 15,985 shares of the business services provider's stock, valued at approximately $3,501,000.

A number of other large investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in Republic Services during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in Republic Services during the third quarter worth $26,000. Prosperity Bancshares Inc bought a new position in Republic Services during the fourth quarter valued at $30,000. Sound Income Strategies LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares of the company's stock, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 987,150 shares of company stock valued at $202,366,682. Insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup raised their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a research report on Friday, July 10th. 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. UBS Group dropped their target price on Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. Royal Bank Of Canada upped their price target 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. Finally, Robert W. Baird dropped their price target on Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $243.89.

Republic Services Stock Performance

NYSE RSG opened at $222.43 on Friday. The stock's 50 day simple moving average is $210.93 and its 200-day simple moving average is $214.69. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $246.25. 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 cap of $68.43 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 3.76 and a beta of 0.40.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The company's revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Republic Services, Inc. will post 7.29 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is 35.87%.

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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

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.