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

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,477,807 shares of the business services provider’s stock after purchasing an additional 63,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Republic Services were worth $296,803,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after buying an additional 538,010 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Republic Services by 129.8% in the third quarter. Rockefeller Capital Management L.P. now owns 324,566 shares of the business services provider’s stock worth $65,186,000 after acquiring an additional 183,325 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Republic Services by 31.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 614,586 shares of the business services provider’s stock valued at $123,434,000 after acquiring an additional 147,799 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after purchasing an additional 129,619 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Republic Services by 3,827.6% during the 2nd quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock worth $20,647,000 after purchasing an additional 103,536 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RSG shares. William Blair started coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, CIBC lifted their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Activity at Republic Services

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

Republic Services Price Performance

NYSE:RSG opened at $218.30 on Friday. 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 business’s 50-day moving average price is $206.22 and its 200 day moving average price is $199.90. Republic Services, Inc. has a 52-week low of $159.38 and a 52-week high of $220.58. The firm has a market cap of $68.36 billion, a P/E ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The business 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 business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

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.