Cerity Partners LLC reduced its stake in Republic Services, Inc. (NYSE: RSG – Get a rating) by 35.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund held 3,962 shares of the business services provider after selling 2,196 shares during the period. Cerity Partners LLC’s holdings in Republic Services were worth $525,000 at the end of last quarter.
A number of other institutional investors and hedge funds also changed their positions in the stock. BlackRock Inc. increased its position in Republic Services by 2.3% during the fourth quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider valued at $2,880,704,000 after acquiring an additional 466,966 shares in the last quarter. State Street Corp increased its position in Republic Services by 0.4% during the fourth quarter. State Street Corp now owns 10,143,176 shares of the business services provider valued at $1,419,062,000 after acquiring an additional 42,050 shares in the last quarter. Nordea Investment Management AB increased its position in Republic Services by 5.6% during the first quarter. Nordea Investment Management AB now owns 4,967,419 shares of the business services provider valued at $670,304,000 after acquiring an additional 264,112 shares in the last quarter. Geode Capital Management LLC increased its position in Republic Services by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider valued at $620,473,000 after acquiring an additional 64,679 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Republic Services during the fourth quarter worth $499,246,000. Institutional investors hold 92.80% of the company’s shares.
In other news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction dated Tuesday, June 7. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the transaction, the chief operating officer now owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, CAD Brian A. Goebel sold 347 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. As a result of the transaction, the chief accounting officer now owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. Company insiders own 0.06% of the company’s shares.
Shares of Actions of the services of the Republic opened at $130.12 on Tuesday. The company has a market capitalization of $41.10 billion, a PE ratio of 30.83, a P/E/G ratio of 2.64 and a beta of 0.73. The company has a debt ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day simple moving average of $130.01 and a two-hundred-day simple moving average of $129.61. Republic Services, Inc. has a one-year minimum of $112.29 and a one-year maximum of $145.98.
Services of the Republic (NYSE: RSG – Get a rating) last announced its results on Thursday, May 5. The business services provider reported EPS of $1.14 for the quarter, beating analyst consensus estimates of $1.05 by $0.09. The company posted revenue of $2.97 billion in the quarter, versus a consensus estimate of $2.89 billion. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company’s revenue increased 14.4% year over year. During the same period a year earlier, the company posted earnings per share of $0.93. On average, stock analysts predict Republic Services, Inc. will post earnings per share of 4.67 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.46. The ex-dividend date is Thursday, June 30. This represents a dividend of $1.84 on an annualized basis and a yield of 1.41%. Republic Services’ dividend payout ratio is currently 43.60%.
A number of analysts have recently released reports on the stock. Morgan Stanley lowered its target price on Republic Services shares from $152.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, June 22 research note. StockNews.com purported coverage of Republic Services stock in a Thursday, March 31, research note. They established a “Strong Buy” rating for the company. Deutsche Bank Aktiengesellschaft downgraded Republic Services shares from a “hold” rating to a “buy” rating and set a target price of $147.00 for the company in a Thursday, June 16 research note. Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research note. Finally, Bank of America upgraded Republic Services shares from a “neutral” rating to a “buy” rating and raised its price target for the stock from $140.00 to $150.00 in a rating of search for Friday, May 13. Two research analysts gave the stock a hold rating, six gave the company a buy rating and two gave the company a strong buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $138.14.
About Republic Services (Get a rating)
Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.
Receive daily news and reviews for Republic Services – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Republic Services and related companies with MarketBeat.com’s free daily email newsletter.