Allianz SE Purchases Shares of 2,992 Republic Services, Inc. (NYSE:RSG)

Allianz SE acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,992 shares of the business services provider’s stock, valued at approximately $602,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at $25,000. Arcadia Investment Management Corp MI increased its position in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $32,000. New Age Alpha Advisors LLC lifted its stake in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after acquiring an additional 73 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in Republic Services in the 4th quarter valued at approximately $45,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Down 0.6 %

Shares of Republic Services stock opened at $238.37 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $241.09. The business has a 50-day moving average of $227.72 and a 200-day moving average of $213.86. The company has a market capitalization of $74.44 billion, a PE ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm posted $1.41 EPS. As a group, equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Wall Street Analyst Weigh In

RSG has been the topic of several research analyst reports. William Blair restated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Jefferies Financial Group raised their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. 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.