Dai ichi Life Insurance Company Ltd Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Dai ichi Life Insurance Company Ltd grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,046 shares of the business services provider’s stock after acquiring an additional 1,944 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Republic Services were worth $20,803,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after buying an additional 101,518 shares during the last quarter. Capital World Investors lifted its holdings in shares of Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after buying an additional 1,346,588 shares during the period. Norges Bank bought a new stake in shares of Republic Services in the fourth quarter worth $358,837,000. TD Asset Management Inc grew its stake in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after buying an additional 3,809 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.3 %

NYSE RSG opened at $205.79 on Friday. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $64.63 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70. The company’s 50-day simple moving average is $201.84 and its two-hundred day simple moving average is $193.12.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Equities analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Wall Street Analyst Weigh In

RSG has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. CIBC upped their price target on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. TD Cowen upped their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $211.00.

Insider Transactions at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

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.