Quaero Capital SA reduces its stake in Republic Services, Inc. (NYSE:RSG)


Quaero Capital SA reduced its equity stake in Republic Services, Inc. (NYSE: RSGGet an assessment) by 26.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor held 15,250 shares of the business services provider after selling 5,600 shares during the quarter. Republic Services represents 1.3% of Quaero Capital SA’s investment portfolio, making it its 26th position. Quaero Capital SA’s holdings in Republic Services were worth $2,021,000 when it last filed with the SEC.

Several other hedge funds also changed their positions in the stock. Benjamin Edwards Inc. increased its stake in Republic Services shares by 0.4% during the 4th quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider valued at $2,523,000 after buying 79 additional shares last quarter. Profund Advisors LLC increased its stake in Republic Services by 2.9% during the 4th quarter. Profund Advisors LLC now owns 2,928 shares of the business services provider worth $408,000 after acquiring 82 additional shares during the period. HighTower Advisors LLC increased its stake in Republic Services by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 24,418 shares of the business services provider worth $3,405,000 after acquiring 82 additional shares during the period. Exchange Traded Concepts LLC increased its stake in Republic Services by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,965 shares of the business services provider worth $692,000 after acquiring 87 additional shares during the period. Finally, CVA Family Office LLC increased its stake in Republic Services by 30.8% during the 4th quarter. CVA Family Office LLC now owns 403 shares of the business services provider worth $56,000 after acquiring 95 additional shares during the period. Institutional investors hold 92.80% of the company’s shares.

Shares of RSG opened at $129.56 on Wednesday. Republic Services, Inc. has a one-year minimum of $110.39 and a one-year maximum of $145.98. The company has a 50-day simple moving average of $130.39 and a two-hundred-day simple moving average of $129.75. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $40.93 billion, a PE ratio of 30.70, a growth price-earnings ratio of 2.71 and a beta of 0.73.

Services of the Republic (NYSE: RSGGet an assessment) last released its quarterly results on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating the consensus estimate 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 return on equity of 15.60% and a net margin of 11.54%. The company’s revenue for the quarter increased 14.4% year over year. In the same period a year earlier, the company earned earnings per share of $0.93. Analysts expect Republic Services, Inc. to post EPS of 4.67 for the current fiscal year.

The company also recently declared 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-dividend date is Thursday, June 30. This represents a dividend of $1.84 on an annualized basis and a yield of 1.42%. Republic Services’ dividend payout ratio (DPR) is currently 43.60%.

A number of analysts have weighed in on the stock recently. Bank of America moved Republic Services shares 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 13 report. may. Raymond James raised his target price on Republic Services shares from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 report. Deutsche Bank Aktiengesellschaft downgraded Republic Services shares 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. Morgan Stanley lowered its price target on Republic Services shares from $152.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, June 22 research report. To finish, StockNews.com began covering Republic Services shares in a research report on Thursday, March 31. They established a “Strong Buy” rating for the company. Two research analysts gave the stock a hold rating, six issued a buy rating and two gave the company a strong buy rating. According to data from MarketBeat.com, Republic Services currently has an average rating of “Buy” and a consensus target price of $138.14.

Separately, CAO Brian A. Goebel sold 347 shares of Republic Services in a trade dated Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction 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 an SEC filing, available at this hyperlink. Additionally, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade dated Tuesday, June 7. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the transaction, the COO now directly owns 19,675 shares of the company, valued at $2,659,863.25. Disclosure of this sale can be found here. Insiders of the company hold 0.06% of the shares of the company.

About Republic Services (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.

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



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