IBM Retirement Fund reduced its position in Republic Services, Inc. (NYSE: RSG – Get an assessment) by 4.8% during the first quarter, Participation channel reports. The institutional investor held 3,317 shares of the business services provider after selling 169 shares during the quarter. IBM Retirement Fund’s holdings in Republic Services were worth $440,000 at the end of last quarter.
Other institutional investors and hedge funds have also recently changed their positions in the company. Godsey & Gibb Associates bought a new position in Republic Services in Q4 worth $28,000. Glassman Wealth Services increased its equity stake in Republic Services by 116.8% in Q1. Glassman Wealth Services now owns 206 shares of the business services provider valued at $27,000 after buying 111 additional shares during the period. Masso Torrence Wealth Management Inc. acquired a new position in shares of Republic Services in Q4 worth $32,000. Confluence Wealth Services Inc. acquired a new position in shares of Republic Services in Q4 worth $33,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in Republic Services stock in Q4 worth $38,000. Hedge funds and other institutional investors own 92.80% of the company’s shares.
In related news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction dated Tuesday, June 7. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the sale, the COO now owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, CAD 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 value of $46,848.47. As a result of the sale, the accounting chief 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 $129.90 on Monday. The company has a market cap of $41.03 billion, a price-to-earnings ratio of 30.78, a growth price-to-earnings ratio of 2.64, and a beta of 0.75. The stock’s 50-day moving average is $130.81 and its 200-day moving average is $129.99. Republic Services, Inc. has a one-year low of $108.10 and a one-year high of $145.98. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75.
Services of the Republic (NYSE: RSG – Get an assessment) last released its quarterly results on Thursday, May 5. The business services provider reported EPS of $1.14 for the quarter, beating consensus analyst estimates of $1.05 by $0.09. The company posted revenue of $2.97 billion for the quarter, versus analyst estimates of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company’s quarterly revenue increased by 14.4% compared to the same quarter last year. During the same period a year earlier, the company posted earnings per share of $0.93. On average, stock analysts expect Republic Services, Inc. to post EPS of 4.67 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Friday, July 1 will receive a dividend of $0.46 per share. The ex-date of this dividend is Thursday, June 30. This represents an annualized dividend of $1.84 and a yield of 1.42%. Republic Services’ payout ratio is currently 43.60%.
A number of research analysts have weighed in on RSG shares recently. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research note. StockNews.com launched coverage on Republic services in a report on Thursday, March 31. They have set a “Strong Buy” rating on the stock. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its share price target from $140.00 to $150.00 in a Friday, May 13 report. 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 report. Finally, Morgan Stanley cut its price target on Republic Services from $152.00 to $142.00 and set an “overweight” rating on the stock in a Wednesday, June 22 report. Two equity research analysts gave the stock a hold rating, six gave the stock a buy rating and two gave the stock a high buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $138.14.
Republic Services Company Profile (Get an assessment)
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.