Royal Bank of Scotland Group PLC Grows Stake in Republic Services, Inc. (NYSE:RSG)

Royal Bank of Scotland Group PLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 21.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,033 shares of the business services provider’s stock after purchasing an additional 708 shares during the period. Royal Bank of Scotland Group PLC’s holdings in Republic Services were worth $349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC increased its stake in Republic Services by 7.4% in the 1st quarter. Horizon Investments LLC now owns 41,983 shares of the business services provider’s stock valued at $3,375,000 after purchasing an additional 2,875 shares in the last quarter. Northern Trust Corp increased its stake in Republic Services by 1.8% in the 1st quarter. Northern Trust Corp now owns 3,003,904 shares of the business services provider’s stock valued at $241,455,000 after purchasing an additional 51,715 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Republic Services by 17.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 609,170 shares of the business services provider’s stock valued at $48,964,000 after purchasing an additional 88,445 shares in the last quarter. VisionPoint Advisory Group LLC increased its stake in Republic Services by 7.5% in the 1st quarter. VisionPoint Advisory Group LLC now owns 28,586 shares of the business services provider’s stock valued at $2,298,000 after purchasing an additional 2,002 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in Republic Services by 201.6% in the 1st quarter. Independent Advisor Alliance now owns 12,038 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 8,046 shares in the last quarter. 59.02% of the stock is owned by hedge funds and other institutional investors.

NYSE:RSG traded down $1.02 during trading hours on Monday, reaching $87.39. 41,635 shares of the company traded hands, compared to its average volume of 890,326. The firm’s 50-day simple moving average is $87.42. The stock has a market capitalization of $28.36 billion, a PE ratio of 28.28, a P/E/G ratio of 3.02 and a beta of 0.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.42 and a current ratio of 0.41. Republic Services, Inc. has a 1-year low of $67.48 and a 1-year high of $90.60.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. Republic Services’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts predict that Republic Services, Inc. will post 3.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.405 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.62 annualized dividend and a dividend yield of 1.85%. Republic Services’s dividend payout ratio (DPR) is 48.54%.

RSG has been the subject of several research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $85.00 price objective (up from $79.00) on shares of Republic Services in a research note on Friday, April 26th. Royal Bank of Canada set a $91.00 price objective on Republic Services and gave the company a “hold” rating in a research note on Friday, July 26th. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $90.00 in a report on Monday, April 29th. Raymond James set a $93.00 target price on Republic Services and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Republic Services presently has a consensus rating of “Hold” and a consensus price target of $83.64.

In other news, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 14,307 shares in the company, valued at $1,287,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald W. Slager sold 69,966 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.66, for a total value of $5,783,389.56. Following the sale, the chief executive officer now owns 287,610 shares in the company, valued at approximately $23,773,842.60. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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