Clearbridge Investments LLC Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Clearbridge Investments LLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 3,827.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,241 shares of the business services provider’s stock after buying an additional 103,536 shares during the period. Clearbridge Investments LLC’s holdings in Republic Services were worth $20,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. Unigestion Holding SA lifted its position in Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after purchasing an additional 122,044 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Republic Services by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock valued at $45,760,000 after buying an additional 19,414 shares during the period. Running Oak Capital LLC boosted its stake in shares of Republic Services by 12.3% in the first quarter. Running Oak Capital LLC now owns 59,310 shares of the business services provider’s stock worth $11,347,000 after buying an additional 6,475 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Republic Services by 32.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock worth $18,052,000 after acquiring an additional 23,306 shares during the period. Finally, Pinebridge Investments L.P. raised its position in Republic Services by 78.3% during the fourth quarter. Pinebridge Investments L.P. now owns 43,614 shares of the business services provider’s stock valued at $7,192,000 after acquiring an additional 19,156 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.6 %

Shares of RSG opened at $200.67 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $202.55 and a 200 day moving average price of $194.86. Republic Services, Inc. has a 12-month low of $141.80 and a 12-month high of $208.69. The firm has a market capitalization of $63.20 billion, a P/E ratio of 35.21, a P/E/G ratio of 3.20 and a beta of 0.69.

Republic Services (NYSE:RSG) last announced its quarterly 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. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. Sell-side analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. Republic Services’s payout ratio is presently 40.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Scotiabank initiated coverage on shares of Republic Services in a research note on Friday. They set a “sector perform” rating and a $224.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer dropped their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.65.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

About Republic Services

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.