Gateway Investment Advisers LLC increased its stake in Republic Services, Inc. (NYSE: RSG – Get a rating) by 49.2% in the first quarter, according to the company in its latest filing with the SEC. The institutional investor held 5,760 shares of the business services provider after purchasing an additional 1,899 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Republic Services were worth $763,000 when it last filed with the SEC.
A number of other hedge funds have also recently bought and sold shares of RSG. Allspring Global Investments Holdings LLC bought a new position in shares of Republic Services during Q4 for a value of $499,246,000. Norges Bank bought a new position in shares of Republic Services during the 4th quarter for a value of $277,394,000. BlackRock Inc. increased its stake in shares of Republic Services by 2.3% during the 4th quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider worth $2,880,704,000 after purchasing an additional 466,966 shares during the period. Marshall Wace LLP bought a new position in shares of Republic Services during the 4th quarter at a value of $55,983,000. Finally, Allianz Asset Management GmbH increased its stake in Republic Services by 197.2% during the 4th quarter. Allianz Asset Management GmbH now owns 547,248 shares of the business services provider worth $76,313,000 after purchasing an additional 363,101 shares during the period. 92.80% of the shares are currently held by hedge funds and other institutional investors.
A number of research analysts have weighed in on the company. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. JPMorgan Chase & Co. began covering Republic Services in a research report on Tuesday, March 1. They issued a “neutral” rating on the title. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a target price of $147.00 on the stock in a Thursday, June 16 research report. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the stock from $140.00 to $150.00 in a Friday, May 13 research report. Finally, Morgan Stanley cut its target price on Republic Services from $152.00 to $142.00 and set an “overweight” rating on the stock in a research report Wednesday. Two investment analysts gave the stock a hold rating, six gave the stock a buy rating and two gave the stock a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $138.14.
Separately, CAO Brian A. Goebel sold 347 shares of the company in a trade dated Thursday, June 2. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the sale, the chief accounting officer now directly owns 6,186 shares of the company, valued at $835,171.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, COO Timothy E. Stuart sold 15,000 shares of the company in a trade dated Tuesday, June 7. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following the sale, the chief operating officer now owns 19,675 shares of the company, valued at $2,659,863.25. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders of the company.
Shares of NYSE RSG opened at $129.90 on Friday. Republic Services, Inc. has a 12 month minimum of $108.10 and a 12 month maximum of $145.98. The company has a market capitalization of $41.03 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.58 and a beta of 0.75. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. The stock has a fifty-day moving average price of $130.81 and a 200-day moving average price of $130.02.
Services of the Republic (NYSE: RSG – Get a rating) last announced its quarterly results on Thursday, May 5. The business services provider reported earnings per share (EPS) of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company posted revenue of $2.97 billion in the quarter, versus a consensus estimate of $2.89 billion. During the same period of the previous year, the company achieved EPS of $0.93. The company’s quarterly revenue increased by 14.4% compared to the same quarter last year. On average, sell-side analysts expect Republic Services, Inc. to post EPS 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 per share. The ex-dividend date is Thursday, June 30. This represents an annualized dividend of $1.84 and a dividend yield of 1.42%. Republic Services’ dividend payout ratio is currently 43.60%.
Republic Services Company Profile (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.
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