Republic Services, Inc. (RSG) Shares Bought by Sawgrass Asset Management LLC

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Sawgrass Asset Management LLC boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 6,099.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,901 shares of the business services provider’s stock after acquiring an additional 236,031 shares during the period. Sawgrass Asset Management LLC’s holdings in Republic Services were worth $19,283,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RSG. TIAA CREF Investment Management LLC boosted its position in shares of Republic Services by 14.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 751,589 shares of the business services provider’s stock worth $54,610,000 after acquiring an additional 95,792 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Republic Services by 9.0% in the 3rd quarter. Legal & General Group Plc now owns 1,342,538 shares of the business services provider’s stock valued at $97,530,000 after purchasing an additional 111,021 shares during the period. Vanguard Group Inc raised its stake in Republic Services by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 18,743,008 shares of the business services provider’s stock valued at $1,361,867,000 after acquiring an additional 115,598 shares during the last quarter. First Hawaiian Bank raised its stake in Republic Services by 280.5% during the 4th quarter. First Hawaiian Bank now owns 6,252 shares of the business services provider’s stock valued at $451,000 after acquiring an additional 4,609 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in Republic Services by 17.3% during the 4th quarter. DNB Asset Management AS now owns 35,285 shares of the business services provider’s stock valued at $2,544,000 after acquiring an additional 5,202 shares during the last quarter. 60.75% of the stock is owned by hedge funds and other institutional investors.

RSG has been the subject of a number of analyst reports. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Bank of America reissued a “neutral” rating and set a $85.00 target price (up from $79.00) on shares of Republic Services in a research note on Friday, April 26th. UBS Group increased their target price on Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada initiated coverage on Republic Services in a research note on Wednesday, May 1st. They set a “sector perform” rating and a $87.00 target price for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Republic Services currently has an average rating of “Hold” and a consensus target price of $81.97.

Shares of RSG stock traded down $0.32 during trading hours on Friday, reaching $84.77. 13,407 shares of the company’s stock were exchanged, compared to its average volume of 1,125,414. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 2.73 and a beta of 0.57. Republic Services, Inc. has a 1 year low of $66.40 and a 1 year high of $85.36. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.86.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 25th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.50 billion. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, June 28th. Republic Services’s dividend payout ratio is currently 48.54%.

In related news, CEO Donald W. Slager sold 69,966 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tomago Collins sold 4,102 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $80.59, for a total value of $330,580.18. Following the completion of the sale, the director now owns 14,821 shares in the company, valued at approximately $1,194,424.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,575 shares of company stock worth $12,472,125. Insiders own 0.30% of the company’s stock.

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About Republic Services

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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