Parallel Advisors LLC reduced its position in Republic Services, Inc. (NYSE: RSG – Get a rating) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filed with the Securities & Exchange Commission. The company held 3,043 shares of the business services provider after selling 578 shares during the quarter. Parallel Advisors LLC’s holdings in Republic Services were worth $410,000 when it last filed with the Securities & Exchange Commission.
Several other hedge funds have also recently changed their positions in the company. BlackRock Inc. increased its stake in shares of Republic Services by 2.3% in the fourth 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. State Street Corp increased its stake in shares of Republic Services by 0.4% in the fourth quarter. State Street Corp now owns 10,143,176 shares of the business services provider worth $1,419,062,000 after purchasing an additional 42,050 shares during the period. Nordea Investment Management AB increased its stake in shares of 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 shares of 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 bought a new position in shares of Republic Services in the fourth quarter worth $499,246,000. 92.80% of the shares are held by hedge funds and other institutional investors.
Insider Trading at Republic Services
In other news, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade dated Tuesday, June 7. The stock was 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 owns 19,675 shares of the company, valued at approximately $2,659,863.25. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. In other Republic Services 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 value of $2,027,850.00. Following completion of the transaction, the COO now owns 19,675 shares of the company, valued at approximately $2,659,863.25. The sale was disclosed in a legal filing with the SEC, which is available via this link. 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. Following completion of the transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders.
Performance of Republic Services shares
Shares of GSR action opened at $129.00 on Monday. Republic Services, Inc. has a 12 month minimum of $112.62 and a 12 month maximum of $145.98. The stock has a market capitalization of $40.75 billion, a PE ratio of 30.57, a growth price-earnings ratio of 2.62 and a beta of 0.73. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. The company’s fifty-day moving average price is $129.68 and its 200-day moving average price is $129.32.
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 consensus analyst estimates of $1.05 by $0.09. The company posted revenue of $2.97 billion for 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 quarterly revenue increased 14.4% year over year. In the same quarter a year earlier, the company posted EPS of $0.93. On average, stock analysts expect Republic Services, Inc. to post EPS of 4.67 for the current fiscal year.
Republic Services announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.46. This represents an annualized dividend of $1.84 and a dividend yield of 1.43%. The ex-dividend date was Thursday, June 30. Republic Services’ dividend payout ratio is currently 43.60%.
Wall Street analysts predict growth
Several research analysts have recently commented on RSG stocks. 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 note. StockNews.com alleged coverage of Republic Services stock in a Thursday, March 31 report. They issued a “Strong Buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 on the stock in a Thursday, June 16 report. Morgan Stanley cut its price target on Republic Services shares from $152.00 to $142.00 and set an “overweight” rating on the stock in a Wednesday, June 22 report. Finally, Bank of America upgraded Republic Services shares from a “neutral” rating to a “buy” rating and raised its price target for the company from $140.00 to $150.00 in a Friday report. May 13. Two investment analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $141.00.
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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