Dai ichi Life Insurance Company Ltd Sells 9,348 Shares of Republic Services, Inc. $RSG

Dai ichi Life Insurance Company Ltd cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 12.9% in the 1st quarter, Holdings Channel reports. The firm owned 63,345 shares of the business services provider’s stock after selling 9,348 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Republic Services were worth $13,874,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RSG. State Street Corp lifted its position in shares of Republic Services by 1.7% during the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after buying an additional 166,474 shares during the last quarter. Capital World Investors raised its stake in Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after acquiring an additional 1,899,183 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after acquiring an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Republic Services by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Republic Services during the 4th quarter valued at approximately $617,165,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

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

Analysts Set New Price Targets

A number of analysts have weighed in on RSG shares. JPMorgan Chase & Co. raised their target price on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Robert W. Baird lowered their price target on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Royal Bank Of Canada raised their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Barclays increased their target price 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 research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Stock Down 0.3%

Shares of NYSE:RSG opened at $216.79 on Friday. The firm has a market cap of $66.70 billion, a P/E ratio of 31.10, a P/E/G ratio of 3.64 and a beta of 0.40. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The business has a fifty day simple moving average of $212.24 and a 200 day simple moving average of $214.85. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last issued its quarterly earnings results 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. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

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

Republic Services Company Profile

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.