iA Global Asset Management Inc. Buys 35,000 Shares of Republic Services, Inc. $RSG

iA Global Asset Management Inc. boosted its stake in Republic Services, Inc. (NYSE:RSG) by 54.5% during the 1st quarter, HoldingsChannel reports. The fund owned 99,200 shares of the business services provider’s stock after acquiring an additional 35,000 shares during the quarter. iA Global Asset Management Inc.’s holdings in Republic Services were worth $21,727,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Laurel Wealth Advisors LLC bought a new stake in shares of Republic Services in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new position in shares of Republic Services during the third quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Republic Services during the third quarter worth about $29,000. Prosperity Bancshares Inc acquired a new stake in Republic Services in the 4th quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC bought a new stake in Republic Services in the 4th quarter valued at approximately $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of Republic Services stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 987,150 shares of company stock worth $202,366,682 over the last three months. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Citigroup cut their price target on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Royal Bank Of Canada increased their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Barclays lifted their target price on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Republic Services Stock Down 0.7%

Republic Services stock opened at $213.10 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average is $207.46 and its 200-day moving average is $214.16. The firm has a market capitalization of $65.56 billion, a PE ratio of 30.57, a P/E/G ratio of 3.53 and a beta of 0.41. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $246.80.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is currently 36.15%.

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.