Republic Services, Inc. (NYSE:RSG) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its stake in Republic Services, Inc. (NYSE:RSG) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,477,807 shares of the business services provider’s stock after acquiring an additional 63,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.47% of Republic Services worth $296,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Republic Services in the 3rd quarter valued at about $6,102,000. Lifeworks Advisors LLC raised its position in shares of Republic Services by 1,112.3% in the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after buying an additional 19,698 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Republic Services by 15.2% during the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after acquiring an additional 746 shares during the last quarter. PGGM Investments grew its stake in Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after acquiring an additional 6,415 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Republic Services in the 3rd quarter valued at $6,579,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.0 %

Shares of NYSE:RSG opened at $218.30 on Friday. The company has a 50 day moving average of $206.22 and a two-hundred day moving average of $199.90. Republic Services, Inc. has a 52-week low of $159.38 and a 52-week high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $68.36 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. As a group, analysts forecast that Republic Services, Inc. will post 6.24 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, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RSG. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. CIBC upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada increased their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.71.

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.