Parallel Advisors LLC decreases its stake in Republic Services, Inc. (NYSE:RSG)


Parallel Advisors LLC reduced its position in Republic Services, Inc. (NYSE: RSGGet 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: RSGGet 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

(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.

Further reading

Institutional ownership by quarter for Republic Services (NYSE:RSG)



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