Republic Services, Inc. (RSG) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,700 shares of the business services provider’s stock after acquiring an additional 1,000 shares during the quarter. Macquarie Group Ltd.’s holdings in Republic Services were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RSG. Janus Henderson Group PLC raised its holdings in shares of Republic Services by 13,584.4% during the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after purchasing an additional 3,717,509 shares during the period. BlackRock Inc. raised its holdings in shares of Republic Services by 6.4% during the second quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after purchasing an additional 1,223,613 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Republic Services by 89.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock worth $105,397,000 after acquiring an additional 778,800 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Republic Services by 39.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,592,679 shares of the business services provider’s stock worth $101,501,000 after acquiring an additional 452,390 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Republic Services by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after acquiring an additional 418,797 shares during the last quarter. 60.01% of the stock is currently owned by institutional investors and hedge funds.

Republic Services, Inc. (RSG) opened at $66.09 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93. The company has a market cap of $21,674.46, a P/E ratio of 27.02, a P/E/G ratio of 3.19 and a beta of 0.60. Republic Services, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $67.18.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. analysts predict that Republic Services, Inc. will post 2.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a $0.345 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.09%. Republic Services’s dividend payout ratio (DPR) is presently 58.47%.

Republic Services announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

A number of equities research analysts recently weighed in on RSG shares. Bank of America lowered their target price on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. KeyCorp restated a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. Royal Bank of Canada reiterated an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. Credit Suisse Group decreased their price objective on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $67.71.

In other news, insider Donald W. Slager sold 22,608 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now directly owns 246,617 shares of the company’s stock, valued at $16,289,052.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 32,421 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total transaction of $2,074,944.00. The disclosure for this sale can be found here. Insiders sold 167,411 shares of company stock valued at $10,808,080 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

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Republic Services Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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