Nippon Life Global Investors Americas Inc. Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Nippon Life Global Investors Americas Inc. boosted its position in Republic Services, Inc. (NYSE:RSG) by 26.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,760 shares of the business services provider’s stock after buying an additional 58,310 shares during the period. Republic Services makes up approximately 2.4% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 12th largest holding. Nippon Life Global Investors Americas Inc. owned 0.09% of Republic Services worth $53,980,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RSG. Wells Fargo & Company MN raised its holdings in shares of Republic Services by 4.4% during the fourth quarter. Wells Fargo & Company MN now owns 247,955 shares of the business services provider’s stock worth $40,890,000 after purchasing an additional 10,509 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Republic Services during the 4th quarter valued at about $446,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Republic Services in the fourth quarter worth about $968,000. Orion Portfolio Solutions LLC grew its holdings in Republic Services by 21.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 38,939 shares of the business services provider’s stock worth $6,400,000 after acquiring an additional 6,878 shares during the period. Finally, Skopos Labs Inc. purchased a new position in Republic Services during the fourth quarter valued at approximately $221,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RSG has been the topic of a number of analyst reports. Oppenheimer dropped their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. BMO Capital Markets increased their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Robert W. Baird lifted their price target on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, CIBC increased their price target on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $211.00.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $201.39 on Monday. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69. The firm has a market capitalization of $63.42 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day simple moving average of $202.28 and a 200-day simple moving average of $193.86.

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

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 40.70%.

Republic Services Profile

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.