IFM Investors Pty Ltd Buys 10,718 Shares of Republic Services, Inc. $RSG

Key Points

• IFM Investors Pty Ltd increased its stake in Republic Services by 26.6% in the first quarter, buying 10,718 additional shares and bringing its total holding to 51,005 shares worth about $11.17 million.
• Republic Services reported better-than-expected first-quarter earnings of $1.70 per share versus estimates of $1.64, with revenue of $4.11 billion and year-over-year revenue growth of 2.6%.
• The company also announced a quarterly dividend of $0.625 per share, payable on July 15, which equates to an annualized dividend of $2.50 and a yield of about 1.2%.

IFM Investors Pty Ltd lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 26.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 51,005 shares of the business services provider's stock after acquiring an additional 10,718 shares during the period. IFM Investors Pty Ltd's holdings in Republic Services were worth $11,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. State Street Corp lifted its stake in 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 raised its holdings in shares of Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley lifted its position in Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock worth $1,133,509,000 after buying an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP boosted its stake in Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock worth $1,074,513,000 after buying an additional 807,525 shares in the last quarter. Finally, Norges Bank bought a new position in Republic Services during the fourth quarter valued at approximately $617,165,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of Republic Services stock opened at $214.75 on Thursday. The company's fifty day simple moving average is $207.59 and its two-hundred day simple moving average is $214.18. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The firm has a market cap of $66.07 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 3.51 and a beta of 0.40. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

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 for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the business posted $1.58 earnings per share. Republic Services's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Dividend Announcement

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

Insider Activity at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of the company'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 transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares of the company's stock, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 987,150 shares of company stock worth $202,366,682 over the last three months. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Citigroup decreased their target price on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Wolfe Research began coverage on shares of Republic Services in a research note on Friday, March 13th. They issued a "peer perform" rating for the company. Wells Fargo & Company raised their price objective on Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, March 18th. Finally, Robert W. Baird decreased their price objective on Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $243.26.

Republic Services 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.

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