iA Global Asset Management Inc. Raises Stock Holdings in Republic Services, Inc. $RSG

Key Points

• iA Global Asset Management boosted its stake in Republic Services by 18.5% in the fourth quarter, adding 10,000 shares to reach 64,200 shares valued at about $13.6 million.
• Republic Services reported strong quarterly results, posting $1.70 EPS versus $1.64 expected and revenue of $4.11 billion, slightly above estimates, with revenue up 2.6% year over year.
• The company also announced a quarterly dividend of $0.625 per share payable July 15, while analysts currently rate the stock a consensus Hold with a target price of $245.15.

iA Global Asset Management Inc. increased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,200 shares of the business services provider's stock after buying an additional 10,000 shares during the quarter. iA Global Asset Management Inc.'s holdings in Republic Services were worth $13,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan lifted its position in Republic Services by 22.0% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 5,998 shares of the business services provider's stock worth $1,271,000 after buying an additional 1,080 shares during the last quarter. Qsemble Capital Management LP bought a new stake in Republic Services in the 4th quarter worth approximately $7,635,000. Stephens Inc. AR lifted its position in Republic Services by 5.1% in the 4th quarter. Stephens Inc. AR now owns 21,054 shares of the business services provider's stock worth $4,462,000 after buying an additional 1,013 shares during the last quarter. AlphaCore Capital LLC lifted its position in Republic Services by 1,386.2% in the 4th quarter. AlphaCore Capital LLC now owns 26,321 shares of the business services provider's stock worth $5,578,000 after buying an additional 24,550 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in Republic Services by 3.5% in the 4th quarter. DNB Asset Management AS now owns 51,087 shares of the business services provider's stock worth $10,827,000 after buying an additional 1,742 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG stock opened at $208.12 on Friday. The stock has a market cap of $64.03 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 3.43 and a beta of 0.43. The business's fifty day moving average is $214.67 and its 200 day moving average is $214.89. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month 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.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping 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 analysts' expectations of $4.10 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend 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. acquired 366,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 499,150 shares of company stock worth $100,527,357 over the last 90 days. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of several recent research reports. Scotiabank lowered their price objective on Republic Services from $246.00 to $242.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 21st. Weiss Ratings downgraded Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. BMO Capital Markets lowered their price objective on Republic Services from $251.00 to $248.00 and set an "outperform" rating for the company in a research report on Wednesday, February 18th. Morgan Stanley lowered their price objective on Republic Services from $230.00 to $225.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.

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