Bessemer Group Inc. Raises Position in Republic Services, Inc. $RSG

Key Points

• Bessemer Group Inc. increased its stake in Republic Services by 11% in the fourth quarter, bringing its holdings to 821,171 shares valued at about $174 million.
• Republic Services reported better-than-expected quarterly earnings, posting $1.70 EPS versus $1.64 expected, while revenue came in slightly above forecasts at $4.11 billion.
• The company also announced a quarterly dividend of $0.625 per share, and insiders have been active buyers recently, including Cascade Investment’s purchase of 366,000 shares.

Bessemer Group Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 821,171 shares of the business services provider's stock after purchasing an additional 81,379 shares during the period. Bessemer Group Inc. owned approximately 0.27% of Republic Services worth $174,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Republic Services during the 4th quarter valued at $23,549,000. Conning Inc. raised its stake in Republic Services by 17.3% in the 4th quarter. Conning Inc. now owns 22,729 shares of the business services provider's stock worth $4,817,000 after acquiring an additional 3,358 shares during the last quarter. Flavin Financial Services Inc. raised its stake in Republic Services by 3.0% in the 4th quarter. Flavin Financial Services Inc. now owns 8,254 shares of the business services provider's stock worth $1,749,000 after acquiring an additional 239 shares during the last quarter. Allworth Financial LP raised its stake in Republic Services by 28.2% in the 4th quarter. Allworth Financial LP now owns 2,367 shares of the business services provider's stock worth $502,000 after acquiring an additional 521 shares during the last quarter. Finally, Cardinal Point Capital Management ULC purchased a new position in Republic Services in the 4th quarter worth $613,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

NYSE:RSG opened at $208.67 on Friday. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $64.20 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 3.35 and a beta of 0.43. The stock's 50-day moving average price is $215.14 and its 200-day moving average price is $214.94.

Republic Services (NYSE:RSG - Get Free Report) last posted its 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 period last year, the firm earned $1.58 EPS. The company's quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services's dividend payout ratio (DPR) is 36.15%.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider directly owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders bought 499,150 shares of company stock worth $100,527,357. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Scotiabank reduced their target price on Republic Services from $246.00 to $242.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 21st. Barclays raised their target price on Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research note on Monday. Morgan Stanley reduced their target price on Republic Services from $230.00 to $225.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 18th. Weiss Ratings lowered Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Finally, Citigroup reduced their price objective on Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $245.15.

About Republic Services

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.