Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Republic Services, Inc. $RSG

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 445,395 shares of the business services provider’s stock after purchasing an additional 26,008 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Republic Services were worth $93,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services during the fourth quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Republic Services during the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after purchasing an additional 67 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Republic Services during the third quarter worth $29,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Republic Services during the fourth quarter worth $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on RSG shares. Robert W. Baird dropped their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. BMO Capital Markets dropped their price objective on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Barclays set a $227.00 price objective on shares of Republic Services in a report on Monday, February 23rd. Morgan Stanley dropped their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Nine equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Republic Services presently has an average rating of “Hold” and a consensus target price of $244.67.

Republic Services Stock Performance

NYSE:RSG opened at $200.76 on Friday. Republic Services, Inc. has a twelve month low of $198.24 and a twelve month high of $258.75. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average of $217.64 and a 200-day moving average of $215.64. The firm has a market cap of $62.03 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 12.90% and a return on equity of 18.44%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 7.22 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 36.79%.

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.