Republic Services, Inc. (NYSE:RSG) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in Republic Services, Inc. (NYSE:RSGFree Report) by 111.2% during the third quarter, Holdings Channel.com reports. The firm owned 174,722 shares of the business services provider’s stock after purchasing an additional 92,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Republic Services were worth $24,900,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FinTrust Capital Advisors LLC raised its holdings in Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Republic Services during the first quarter valued at about $34,000. Millburn Ridgefield Corp purchased a new stake in shares of Republic Services in the 3rd quarter valued at approximately $36,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $41,000. Finally, Fred Alger Management LLC boosted its position in shares of Republic Services by 118.1% during the 4th quarter. Fred Alger Management LLC now owns 301 shares of the business services provider’s stock worth $39,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 57.23% of the company’s stock.

Republic Services Trading Down 0.7 %

Shares of NYSE:RSG opened at $173.49 on Friday. Republic Services, Inc. has a 52 week low of $124.27 and a 52 week high of $175.35. The company’s 50 day moving average is $166.41 and its two-hundred day moving average is $155.50. The company has a market cap of $54.59 billion, a PE ratio of 33.56, a P/E/G ratio of 2.89 and a beta of 0.67. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.06.

Republic Services declared that its board has approved a share repurchase plan on Thursday, October 26th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Monday, April 1st. Republic Services’s dividend payout ratio is presently 41.39%.

Analysts Set New Price Targets

RSG has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Republic Services in a research report on Thursday, February 1st. Wolfe Research began coverage on Republic Services in a research note on Tuesday, October 17th. They set a “peer perform” rating on the stock. Oppenheimer raised their target price on Republic Services from $172.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Stifel Nicolaus increased their price target on shares of Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, UBS Group raised shares of Republic Services from a “neutral” rating to a “buy” rating and raised their price objective for the company from $155.00 to $175.00 in a research note on Monday, October 23rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.33.

View Our Latest Analysis on RSG

Republic Services Profile

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.

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

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