Kestra Advisory Services LLC has raised its stake in the shares of Republic Services, Inc. (NYSE: RSG – Get a rating) by 4.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor held 3,810 shares of the business services provider after purchasing an additional 177 shares during the period. Kestra Advisory Services LLC’s holdings in Republic Services were worth $505,000 at the end of the last quarter.
Several other hedge funds and other institutional investors have also recently changed their stock holdings. BlackRock Inc. increased its position in Republic Services shares 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 purchasing an additional 466,966 shares during the period. State Street Corp increased its position in Republic Services shares 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 purchasing an additional 42,050 shares during the period. Nordea Investment Management AB increased its stake in Republic Services by 5.6% in the first quarter. Nordea Investment Management AB now owns 4,967,419 shares of the business services provider worth $670,304,000 after purchasing an additional 264,112 shares during the period. Geode Capital Management LLC increased its stake in Republic Services by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider worth $620,473,000 after purchasing an additional 64,679 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Republic Services during the fourth quarter worth approximately $499,246,000. Hedge funds and other institutional investors own 92.80% of the company’s shares.
Wall Street analysts predict growth
A number of research analysts have weighed in on the stock recently. Deutsche Bank Aktiengesellschaft upgraded Republic Services shares from a “hold” rating to a “buy” rating and set a price target of $147.00 on the stock in a Thursday, June 16 research report. Morgan Stanley raised its price target on Republic Services shares from $142.00 to $147.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com purported coverage of Republic Services stock in a Thursday, March 31 research report. They have set a “Strong Buy” rating on the stock. Bank of America has downgraded Republic Services shares from a “neutral” to a “buy” rating and raised its price target for the company from $140.00 to $150.00 in a research report from the Friday May 13. Finally, Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research report. Two analysts gave the stock a hold rating, five gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat, the stock has an average buy rating and an average price target of $141.43.
Performance of Republic Services shares
Shares of NYSE RSG opened at $131.24 on Friday. The company has a fifty-day moving average price of $129.66 and a 200-day moving average price of $129.20. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $41.46 billion, a PE ratio of 31.10, a growth price-earnings ratio of 2.62 and a beta of 0.73. Republic Services, Inc. has a 1-year minimum of $113.57 and a 1-year maximum of $145.98.
Services of the Republic (NYSE: RSG – Get a rating) last reported quarterly earnings data on Thursday, May 5. The business services provider reported earnings per share (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 $2.89 billion expected by analysts. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company’s revenue for the quarter increased by 14.4% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.93. Stock analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current fiscal year.
Republic Services announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Investors of record on Friday, July 1 received a dividend of $0.46 per share. The ex-dividend date was Thursday, June 30. This represents an annualized dividend of $1.84 and a yield of 1.40%. Republic Services’ payout ratio is 43.60%.
Insider Activity at Republic Services
In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade on Tuesday, June 7. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following completion of the transaction, the COO now directly owns 19,675 shares of the company, valued at approximately $2,659,863.25. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In other Republic Services news, CAO Brian A. Goebel sold 347 shares of Republic Services in a trade on Thursday, June 2. The shares were sold at an average price of $135.01, for a total value of $46,848.47. Following completion of the transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at approximately $835,171.86. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, 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 completion of the sale, the COO now owns 19,675 shares of the company, valued at approximately $2,659,863.25. Disclosure of this sale can be found here. 0.06% of the shares are currently held by insiders.
Profile of the services of the Republic
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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