Arrowstreet Capital Limited Partnership Raises Stock Holdings in Republic Services, Inc. $RSG

Arrowstreet Capital Limited Partnership grew its position in Republic Services, Inc. (NYSE:RSG) by 43.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,030,445 shares of the business services provider’s stock after purchasing an additional 314,093 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.33% of Republic Services worth $225,688,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after buying an additional 8,547 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Republic Services by 23.2% during the second quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock valued at $4,329,000 after acquiring an additional 3,303 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after acquiring an additional 1,044 shares during the period. Treasurer of the State of North Carolina raised its position in Republic Services by 0.7% in the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after purchasing an additional 688 shares during the period. Finally, Ieq Capital LLC lifted its stake in Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after purchasing an additional 4,729 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.3%

Shares of NYSE RSG opened at $216.79 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $212.24 and a 200 day moving average price of $214.85. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25. The stock has a market capitalization of $66.70 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the business posted $1.58 EPS. Republic Services’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio is 35.87%.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on RSG. JPMorgan Chase & Co. boosted their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. UBS Group decreased their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, Barclays boosted their price target on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.