Peregrine Asset Advisers Inc. Raises Position in Republic Services, Inc. $RSG

Peregrine Asset Advisers Inc. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 898.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,388 shares of the business services provider’s stock after buying an additional 10,248 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Republic Services were worth $2,494,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. State Street Corp grew its position in Republic Services by 1.7% in the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after acquiring an additional 166,474 shares in the last quarter. Capital World Investors lifted its position in shares of Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after purchasing an additional 1,899,183 shares in the last quarter. Morgan Stanley boosted its stake in shares of Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Wellington Management Group LLP grew its holdings in Republic Services by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares in the last quarter. Finally, Norges Bank purchased a new stake in Republic Services during the 4th quarter worth $617,165,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.2%

NYSE:RSG opened at $217.27 on Friday. The firm has a market capitalization of $66.85 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.53 and a beta of 0.40. The stock has a 50 day moving average of $207.83 and a 200-day moving average of $214.21. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

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

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RSG. JPMorgan Chase & Co. increased their price objective on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Wells Fargo & Company upped their price objective on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their price target on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Robert W. Baird dropped their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $243.26.

Insider Buying and Selling at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Republic Services Profile

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.