Principal Financial Group Inc. Has $113.40 Million Stake in Republic Services, Inc. (NYSE:RSG)

Principal Financial Group Inc. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 687,643 shares of the business services provider's stock after buying an additional 27,913 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Republic Services worth $113,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of RSG. Magellan Asset Management Ltd grew its position in Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider's stock valued at $130,158,000 after purchasing an additional 913,267 shares during the period. FMR LLC grew its position in Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider's stock valued at $313,865,000 after purchasing an additional 563,761 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Republic Services in the 4th quarter valued at $77,417,000. Envestnet Asset Management Inc. grew its position in Republic Services by 50.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider's stock valued at $128,352,000 after purchasing an additional 303,754 shares during the period. Finally, Panagora Asset Management Inc. grew its position in Republic Services by 1,383.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider's stock valued at $34,359,000 after purchasing an additional 224,841 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

NYSE RSG traded down $1.01 on Monday, reaching $188.23. 839,045 shares of the company's stock traded hands, compared to its average volume of 1,242,737. The stock has a market cap of $59.28 billion, a PE ratio of 33.08, a P/E/G ratio of 3.05 and a beta of 0.67. Republic Services, Inc. has a 12 month low of $140.07 and a 12 month high of $196.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a 50-day simple moving average of $188.37 and a 200 day simple moving average of $173.78.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services's payout ratio is 37.54%.

Insider Buying and Selling

In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the business's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ark Jon Vander sold 5,446 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares of the company's stock, valued at $15,669,303.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They set a "sector perform" rating and a $198.00 price objective on the stock. Jefferies Financial Group raised their price objective on Republic Services from $213.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Scotiabank raised their price objective on Republic Services from $211.00 to $213.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their target price on Republic Services from $209.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Finally, UBS Group lifted their target price on Republic Services from $195.00 to $200.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $201.00.

About Republic Services

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.

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