Massachusetts Financial Services Co. MA lessened its stake in Republic Services, Inc. (NYSE:RSG) by 4.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,394,569 shares of the business services provider’s stock after selling 67,644 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Republic Services were worth $167,432,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Republic Services by 4.0% in the 2nd quarter. BlackRock Inc. now owns 20,712,888 shares of the business services provider’s stock valued at $2,278,625,000 after buying an additional 792,584 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Republic Services by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,249,924 shares of the business services provider’s stock valued at $2,007,674,000 after buying an additional 181,319 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Republic Services by 110.4% in the 3rd quarter. Nordea Investment Management AB now owns 10,563,910 shares of the business services provider’s stock valued at $1,289,853,000 after buying an additional 5,543,526 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Republic Services by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,316,392 shares of the business services provider’s stock valued at $473,704,000 after buying an additional 264,444 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Republic Services by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,936,747 shares of the business services provider’s stock valued at $433,068,000 after buying an additional 23,126 shares during the last quarter. 57.74% of the stock is owned by institutional investors.
In related news, Director Tomago Collins sold 2,000 shares of the firm’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $133.59, for a total value of $267,180.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, October 28th. The business services provider reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Republic Services had a return on equity of 15.19% and a net margin of 11.11%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the business earned $1.00 earnings per share. Republic Services’s revenue was up 16.4% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 4.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Monday, January 3rd were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, December 31st. Republic Services’s payout ratio is currently 48.42%.
Several equities research analysts have issued reports on RSG shares. Royal Bank of Canada raised their price target on Republic Services from $125.00 to $129.00 and gave the company a “sector perform” rating in a report on Friday, October 29th. Raymond James raised their price target on Republic Services from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, January 10th. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating and set a $128.00 price target for the company. in a report on Wednesday, September 29th. Deutsche Bank Aktiengesellschaft raised their price target on Republic Services from $121.00 to $142.00 and gave the company a “hold” rating in a report on Monday, November 1st. Finally, Morgan Stanley increased their price objective on Republic Services from $141.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 5th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $126.20.
Republic Services Company Profile
Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.
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