Northern Trust Corp Acquires 280,542 Shares of Republic Services, Inc. (NYSE:RSG)

Northern Trust Corp increased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,426,215 shares of the business services provider's stock after purchasing an additional 280,542 shares during the quarter. Northern Trust Corp owned approximately 0.77% of Republic Services worth $488,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC lifted its stake in Republic Services by 11.0% during the third quarter. Barclays PLC now owns 675,163 shares of the business services provider's stock worth $135,598,000 after purchasing an additional 66,842 shares during the period. Virtu Financial LLC lifted its position in shares of Republic Services by 36.2% during the 3rd quarter. Virtu Financial LLC now owns 11,944 shares of the business services provider's stock worth $2,399,000 after buying an additional 3,172 shares during the period. Anchor Investment Management LLC boosted its stake in Republic Services by 3.2% in the 3rd quarter. Anchor Investment Management LLC now owns 38,501 shares of the business services provider's stock valued at $7,732,000 after buying an additional 1,204 shares in the last quarter. World Investment Advisors LLC raised its stake in Republic Services by 25.8% during the third quarter. World Investment Advisors LLC now owns 3,055 shares of the business services provider's stock worth $613,000 after acquiring an additional 626 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Republic Services during the third quarter valued at $1,065,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

RSG has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Scotiabank lifted their target price on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Citigroup increased their price target on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday. Robert W. Baird lifted their price objective on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets raised their target price on Republic Services from $260.00 to $268.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $249.00.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

Republic Services Trading Up 0.4 %

Shares of NYSE:RSG traded up $1.01 during trading on Friday, hitting $250.42. 894,106 shares of the company's stock were exchanged, compared to its average volume of 1,101,082. The firm has a 50-day moving average price of $238.62 and a two-hundred day moving average price of $220.98. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $252.32. The firm has a market cap of $78.26 billion, a P/E ratio of 38.59, a PEG ratio of 3.64 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.93%. Republic Services's payout ratio is currently 34.99%.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.