North Dakota State Investment Board Invests $1.47 Million in Republic Services, Inc. $RSG

Key Points

• North Dakota State Investment Board opened a new position in Republic Services during the fourth quarter, buying 6,947 shares valued at about $1.47 million.
• Republic Services reported better-than-expected first-quarter results, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion estimated.
• Insider buying has been notable, led by Cascade Investment, which purchased 366,000 shares; the company also announced a quarterly dividend of $0.625 per share.

North Dakota State Investment Board acquired a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,947 shares of the business services provider's stock, valued at approximately $1,472,000.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new position in shares of Republic Services in the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $29,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Republic Services in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on RSG shares. Scotiabank decreased their target price on shares of Republic Services from $246.00 to $242.00 and set a "sector perform" rating for the company in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $249.00 target price on shares of Republic Services 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 for the company in a report on Tuesday, May 12th. Wells Fargo & Company raised their target price on shares of Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a report on Wednesday, March 18th. Finally, Weiss Ratings cut shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $245.15.

Key Republic Services News

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Republic Services Stock Performance

RSG stock opened at $214.94 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $66.13 billion, a P/E ratio of 30.84, a P/E/G ratio of 3.53 and a beta of 0.43. The firm has a 50 day simple moving average of $214.00 and a 200 day simple moving average of $214.86. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. Research analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share 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. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is presently 36.15%.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the transaction, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 987,150 shares of company stock worth $202,366,682 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Republic Services Company 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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