Entropy Technologies LP Buys 24,244 Shares of Republic Services, Inc. $RSG

Key Points

• Entropy Technologies LP increased its stake in Republic Services by 67.5% in the fourth quarter, buying 24,244 additional shares and bringing its total holding to 60,186 shares worth about $12.8 million.
• Other major institutional investors also added to their positions, and institutional ownership now stands at 57.73% of Republic Services stock.
• Republic Services reported earnings that beat expectations for the latest quarter, and it also announced a quarterly dividend of $0.625 per share, implying a 1.2% annualized yield.

Entropy Technologies LP raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 67.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,186 shares of the business services provider's stock after purchasing an additional 24,244 shares during the quarter. Republic Services accounts for approximately 0.7% of Entropy Technologies LP's investment portfolio, making the stock its 28th largest holding. Entropy Technologies LP's holdings in Republic Services were worth $12,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Republic Services by 0.3% during the third quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider's stock worth $4,384,757,000 after purchasing an additional 49,365 shares during the last quarter. State Street Corp lifted its position in shares of Republic Services by 1.7% during the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider's stock worth $2,054,820,000 after purchasing an additional 166,474 shares during the last quarter. Capital World Investors lifted its position in shares of Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock worth $1,857,698,000 after purchasing an additional 1,899,183 shares during the last quarter. Morgan Stanley lifted its position in shares of Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Republic Services by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider's stock worth $711,003,000 after purchasing an additional 409,142 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Insider Activity

In other Republic Services news, 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 987,150 shares of company stock worth $202,366,682 in the last quarter. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RSG shares. Barclays lifted their target price on Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Wells Fargo & Company lifted their price objective on Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Morgan Stanley decreased their price objective on Republic Services from $230.00 to $225.00 and set an "equal weight" rating for the company in a report on Wednesday, February 18th. Finally, BMO Capital Markets decreased their price objective on Republic Services from $251.00 to $248.00 and set an "outperform" rating for the company in a report on Wednesday, February 18th. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $243.26.

Republic Services Price Performance

RSG opened at $209.75 on Friday. The business's 50-day moving average is $208.84 and its two-hundred day moving average is $214.52. Republic Services, Inc. has a 1 year low of $196.41 and a 1 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 firm has a market capitalization of $64.53 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 3.45 and a beta of 0.41.

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

Republic Services Announces Dividend

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

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.

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