Jupiter Asset Management Ltd. Increases Holdings in Republic Services, Inc. $RSG

Key Points

• Jupiter Asset Management increased its stake in Republic Services by 10.1% in the fourth quarter, buying 11,563 more shares and bringing its total to 126,088 shares worth about $26.7 million.
• Republic Services reported strong quarterly results, with EPS of $1.70 topping estimates and revenue of $4.11 billion slightly above expectations. Revenue rose 2.6% year over year, and the company maintained a solid net margin of 13.0%.
• Analysts remain cautious overall, with the stock carrying a Hold consensus rating and an average price target of $245.15. The company also recently declared a quarterly dividend of $0.625 per share, or $2.50 annually.

Jupiter Asset Management Ltd. lifted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,088 shares of the business services provider's stock after purchasing an additional 11,563 shares during the period. Jupiter Asset Management Ltd.'s holdings in Republic Services were worth $26,722,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Foundations Investment Advisors LLC lifted its holdings in Republic Services by 16.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,373 shares of the business services provider's stock worth $291,000 after buying an additional 198 shares during the period. King Luther Capital Management Corp lifted its holdings in Republic Services by 39.1% during the fourth quarter. King Luther Capital Management Corp now owns 75,020 shares of the business services provider's stock worth $15,899,000 after buying an additional 21,095 shares during the period. ICW Investment Advisors LLC lifted its holdings in Republic Services by 1.3% during the fourth quarter. ICW Investment Advisors LLC now owns 8,157 shares of the business services provider's stock worth $1,729,000 after buying an additional 105 shares during the period. Flputnam Investment Management Co. lifted its holdings in Republic Services by 5.2% during the fourth quarter. Flputnam Investment Management Co. now owns 189,611 shares of the business services provider's stock worth $40,184,000 after buying an additional 9,307 shares during the period. Finally, Integrity Alliance LLC. purchased a new stake in Republic Services during the fourth quarter worth $201,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings lowered Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. BMO Capital Markets lowered their target price on Republic Services from $251.00 to $248.00 and set an "outperform" rating for the company in a report on Wednesday, February 18th. JPMorgan Chase & Co. increased their price objective on Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, April 10th. UBS Group decreased their price objective on Republic Services from $240.00 to $223.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. Finally, Wolfe Research started coverage on Republic Services in a report on Friday, March 13th. They set a "peer perform" rating for the company. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $245.15.

Republic Services Stock Performance

Shares of RSG opened at $200.32 on Friday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $258.75. The stock has a fifty day moving average price of $211.11 and a 200-day moving average price of $214.80. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $61.63 billion, a PE ratio of 28.74, a P/E/G ratio of 3.35 and a beta of 0.43.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 EPS. Equities research analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of Republic Services 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 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 987,150 shares of company stock valued at $202,366,682. Company insiders own 0.12% of the company's stock.

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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