Point72 Asia Singapore Pte. Ltd. Acquires Shares of 2,069 Republic Services, Inc. (NYSE:RSG)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Republic Services, Inc. (NYSE:RSG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,069 shares of the business services provider’s stock, valued at approximately $402,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RSG. JARISLOWSKY FRASER Ltd acquired a new position in shares of Republic Services in the fourth quarter valued at $471,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Republic Services by 1.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,277 shares of the business services provider’s stock valued at $1,530,000 after purchasing an additional 148 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Republic Services by 10.9% in the fourth quarter. Stifel Financial Corp now owns 271,585 shares of the business services provider’s stock valued at $44,789,000 after acquiring an additional 26,669 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new position in shares of Republic Services in the fourth quarter valued at about $1,221,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Republic Services by 10.4% in the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after acquiring an additional 55,668 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on RSG. Robert W. Baird upped their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Raymond James decreased their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. CIBC upped their price target on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada upped their price objective on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $211.00.

Insider Activity at Republic Services

In related 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 transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Republic Services Stock Up 0.5 %

RSG stock opened at $204.46 on Thursday. The stock has a market capitalization of $64.39 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 3.26 and a beta of 0.70. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $208.69. The firm has a 50-day moving average price of $202.29 and a 200-day moving average price of $194.13.

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

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is 40.70%.

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.