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

Dai ichi Life Insurance Company Ltd lessened its stake in Republic Services, Inc. (NYSE:RSG) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,345 shares of the business services provider’s stock after selling 9,348 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Republic Services were worth $13,874,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Republic Services in the fourth quarter valued at $617,165,000. Capital World Investors raised its holdings in shares of Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley raised its holdings in shares of Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Republic Services by 68.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock valued at $497,828,000 after purchasing an additional 913,249 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after purchasing an additional 807,525 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on RSG shares. Robert W. Baird dropped their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Barclays boosted their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Royal Bank Of Canada lifted their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Price Performance

Republic Services stock opened at $216.79 on Friday. The company has a market capitalization of $66.70 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 3.64 and a beta of 0.40. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25. The stock’s 50 day moving average is $212.24 and its 200-day moving average is $214.85.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping 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 business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts expect that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Announces Dividend

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

Insider Activity

In other news, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $202.24 per share, with a total value 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 SEC filing for this purchase provides additional information. Insiders purchased 987,150 shares of company stock worth $202,366,682 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Republic Services 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.