iA Global Asset Management Inc. Has $21.73 Million Holdings in Republic Services, Inc. $RSG

Key Points

• iA Global Asset Management boosted its stake in Republic Services by 54.5% in the first quarter, ending with 99,200 shares valued at about $21.73 million.
• Republic Services reported better-than-expected quarterly earnings, with EPS of $1.70 versus estimates of $1.64, and revenue of $4.11 billion slightly topping expectations.
• The company also announced a quarterly dividend of $0.625 per share, payable July 15, for an annualized yield of about 1.2%.

iA Global Asset Management Inc. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 54.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,200 shares of the business services provider's stock after purchasing an additional 35,000 shares during the period. iA Global Asset Management Inc.'s holdings in Republic Services were worth $21,727,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Sawyer & Company Inc raised its position in Republic Services by 7.0% in the 1st quarter. Sawyer & Company Inc now owns 7,207 shares of the business services provider's stock worth $1,578,000 after purchasing an additional 473 shares during the last quarter. Premier Path Wealth Partners LLC bought a new position in Republic Services in the 1st quarter valued at $224,000. SJS Investment Consulting Inc. increased its stake in shares of Republic Services by 78.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 232 shares of the business services provider's stock valued at $51,000 after buying an additional 102 shares during the period. Apollon Wealth Management LLC raised its position in shares of Republic Services by 3.8% during the first quarter. Apollon Wealth Management LLC now owns 8,597 shares of the business services provider's stock worth $1,883,000 after acquiring an additional 317 shares during the last quarter. Finally, Patton Fund Management Inc. lifted its stake in shares of Republic Services by 8.6% during the first quarter. Patton Fund Management Inc. now owns 1,115 shares of the business services provider's stock valued at $244,000 after acquiring an additional 88 shares during the period. 57.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 transaction of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company's stock.

Republic Services Price Performance

Shares of RSG opened at $213.10 on Wednesday. The stock has a market cap of $65.56 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 3.53 and a beta of 0.41. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.80. The stock's 50-day moving average price is $207.46 and its two-hundred day moving average price is $214.16. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly 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 company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same period in the prior year, the business posted $1.58 EPS. Republic Services's revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Robert W. Baird lowered their price objective 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. Wells Fargo & Company upped their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. UBS Group dropped their price target on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating for the company in a research note on Tuesday, May 12th. Finally, Weiss Ratings cut shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus price target of $243.26.

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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