Wellington Management Group LLP Buys 1,131,850 Shares of Republic Services, Inc. (NYSE:RSG)

Wellington Management Group LLP grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 23.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,004,199 shares of the business services provider’s stock after buying an additional 1,131,850 shares during the quarter. Wellington Management Group LLP owned 1.92% of Republic Services worth $1,205,883,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Republic Services during the third quarter valued at about $6,102,000. Lifeworks Advisors LLC lifted its position in Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after buying an additional 19,698 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Republic Services by 15.2% in the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after buying an additional 746 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Republic Services during the third quarter worth approximately $6,579,000. Finally, PGGM Investments lifted its holdings in shares of Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after acquiring an additional 6,415 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RSG. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $211.00 to $238.00 in a research report on Friday. Oppenheimer raised their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. William Blair started coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, CIBC raised their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.88.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Republic Services Stock Up 0.6 %

Shares of Republic Services stock opened at $216.70 on Friday. Republic Services, Inc. has a 1 year low of $160.41 and a 1 year high of $220.58. The firm has a market cap of $67.86 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 3.29 and a beta of 0.71. The company has a 50-day moving average of $207.21 and a 200 day moving average of $200.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. Republic Services’s dividend payout ratio is currently 37.12%.

About Republic Services

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.