Republic Services, Inc. $RSG Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Republic Services, Inc. (NYSE:RSG) by 1.2% in the 1st quarter, HoldingsChannel reports. The fund owned 577,867 shares of the business services provider’s stock after acquiring an additional 7,009 shares during the period. Principal Financial Group Inc.’s holdings in Republic Services were worth $126,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in Republic Services during the 4th quarter valued at $25,000. Wealth Watch Advisors INC bought a new stake in shares of Republic Services in the 3rd quarter worth $26,000. Prosperity Bancshares Inc acquired a new stake in shares of Republic Services in the fourth quarter valued at $30,000. Sound Income Strategies LLC bought a new position in Republic Services during the fourth quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Republic Services during the fourth quarter worth about $32,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $217.16 on Thursday. 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, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25. The company has a market cap of $66.81 billion, a PE ratio of 31.16, a PEG ratio of 3.68 and a beta of 0.40. The stock’s 50-day moving average price is $210.01 and its two-hundred day moving average price is $214.56.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the firm posted $1.58 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Republic Services, Inc. will post 7.29 EPS for the current year.

Republic Services Announces Dividend

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

Analysts Set New Price Targets

RSG has been the subject of several research reports. Barclays raised their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their target price 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. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Finally, Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.89.

Insider Buying and Selling at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company’s stock.

Republic Services Company 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.