Tredje AP fonden lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 53.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,375 shares of the business services provider’s stock after selling 19,007 shares during the period. Tredje AP fonden’s holdings in Republic Services were worth $2,114,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in RSG. Montag A & Associates Inc. lifted its holdings in Republic Services by 0.4% in the fourth quarter. Montag A & Associates Inc. now owns 27,915 shares of the business services provider’s stock worth $2,502,000 after purchasing an additional 120 shares during the period. CSat Investment Advisory L.P. lifted its stake in shares of Republic Services by 17.1% in the 4th quarter. CSat Investment Advisory L.P. now owns 854 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 125 shares during the last quarter. RFG Advisory LLC boosted its stake in shares of Republic Services by 1.0% during the 1st quarter. RFG Advisory LLC now owns 12,627 shares of the business services provider’s stock worth $948,000 after acquiring an additional 131 shares in the last quarter. Lenox Wealth Management Inc. boosted its position in Republic Services by 8.6% during the fourth quarter. Lenox Wealth Management Inc. now owns 1,668 shares of the business services provider’s stock worth $150,000 after purchasing an additional 132 shares during the period. Finally, Colony Group LLC grew its stake in Republic Services by 0.3% in the 4th quarter. Colony Group LLC now owns 38,637 shares of the business services provider’s stock valued at $3,463,000 after buying an additional 134 shares during the last quarter. Institutional investors own 57.54% of the company’s stock.
NYSE:RSG traded up $0.31 on Friday, reaching $81.12. The company’s stock had a trading volume of 590,790 shares, compared to its average volume of 1,284,541. Republic Services, Inc. has a 1-year low of $65.37 and a 1-year high of $100.91. The business’s 50-day moving average price is $78.51 and its two-hundred day moving average price is $86.91. The firm has a market cap of $25.72 billion, a PE ratio of 23.91, a PEG ratio of 2.92 and a beta of 0.61. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.89.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, May 5th. The business services provider reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Republic Services had a return on equity of 13.47% and a net margin of 10.45%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the business posted $0.73 EPS. Republic Services’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Republic Services, Inc. will post 2.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Tuesday, June 30th. Republic Services’s payout ratio is currently 48.50%.
A number of equities research analysts recently weighed in on RSG shares. Bank of America raised Republic Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 11th. Jefferies Financial Group downgraded shares of Republic Services from a “buy” rating to a “hold” rating and cut their price target for the company from $83.00 to $81.00 in a report on Tuesday, April 14th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating and set a $87.00 price target on the stock in a research report on Monday, May 11th. Oppenheimer decreased their price objective on shares of Republic Services from $109.00 to $89.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Finally, Royal Bank of Canada lifted their target price on shares of Republic Services from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $89.50.
In other news, COO Timothy E. Stuart sold 3,580 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $80.00, for a total transaction of $286,400.00. Following the completion of the transaction, the chief operating officer now directly owns 18,290 shares of the company’s stock, valued at $1,463,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles F. Serianni sold 1,500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $81.53, for a total value of $122,295.00. Following the transaction, the chief financial officer now owns 44,156 shares of the company’s stock, valued at $3,600,038.68. The disclosure for this sale can be found here. Insiders sold 8,080 shares of company stock valued at $641,015 in the last quarter. Corporate insiders own 0.20% of the company’s stock.
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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