Republic Services, Inc. $RSG Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its stake in Republic Services, Inc. (NYSE:RSG) by 10.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 649,317 shares of the business services provider’s stock after purchasing an additional 61,569 shares during the quarter. Sei Investments Co.’s holdings in Republic Services were worth $142,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Brighton Jones LLC boosted its holdings in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after buying an additional 8,547 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after buying an additional 3,303 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Republic Services by 3.6% in the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after buying an additional 1,044 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Republic Services by 0.7% in the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after purchasing an additional 688 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Republic Services by 68.4% in the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock valued at $2,871,000 after buying an additional 4,729 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the stock in a transaction on Monday, May 18th. The shares were bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director owned 58 shares in the company, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by insiders.

Republic Services Stock Up 0.3%

RSG stock opened at $217.14 on Friday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25. The company has a market cap of $66.80 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 3.63 and a beta of 0.40. The company has a fifty day moving average price of $212.06 and a 200 day moving average price of $214.84. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the company posted $1.58 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on RSG shares. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Barclays boosted their price target on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Royal Bank Of Canada upped their price objective on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citigroup raised their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, UBS Group cut their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.89.

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.