Wedge Capital Management LLP NC reduced its position in Republic Services, Inc. (NYSE: RSG – Get a rating) by 0.1% in the 1st quarter, Participation channel reports. The company held 371,705 shares of the business services provider after selling 231 shares during the quarter. Wedge Capital Management LLP NC’s holdings in Republic Services were worth $49,251,000 at the end of the last reporting period.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Corient Capital Partners LLC increased its stake in the shares of Republic Services by 2.0% in the 3rd quarter. Corient Capital Partners LLC now owns 3,776 shares of the business services provider valued at $454,000 after purchasing an additional 74 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Republic Services by 0.4% in the fourth quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider valued at $2,523,000 after purchasing an additional 79 shares during the period. Profund Advisors LLC increased its stake in shares of Republic Services by 2.9% in Q4. Profund Advisors LLC now owns 2,928 shares of the business services provider valued at $408,000 after buying 82 additional shares during the period. HighTower Advisors LLC raised its position in Republic Services shares by 0.3% during the fourth quarter. HighTower Advisors LLC now owns 24,418 shares of the business services provider worth $3,405,000 after acquiring 82 additional shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Republic Services shares 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 in the last quarter. 92.80% of the shares are held by hedge funds and other institutional investors.
RSG traded down $0.18 during Wednesday’s trading, hitting $124.35. 2,436 shares were traded, against an average volume of 1,266,987. The company has a market capitalization of $39.28 billion, a P/E ratio of 29.51, a PEG ratio of 2.46 and a beta of 0.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 1.07. The stock has a fifty-day moving average price of $131.15 and a two-hundred-day moving average price of $130.20. Republic Services, Inc. has a 1-year minimum of $107.71 and a 1-year maximum of $145.98.
Services of the Republic (NYSE: RSG – Get a rating) last reported results 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 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 revenue for the quarter increased 14.4% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.93. Analysts predict Republic Services, Inc. will 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. Shareholders of record on Friday, July 1 will receive a dividend of $0.46. This represents a dividend of $1.84 on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, June 30. Republic Services’ payout ratio is currently 43.60%.
In related news, CAO Brian A. Goebel sold 347 shares of Republic Services in a trade that took place on Thursday, June 2. The stock was sold at an average price of $135.01, for a total value of $46,848.47. Following the sale, the chief accounting officer now directly owns 6,186 shares of the company, valued at $835,171.86. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade that took place 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 the completion of the sale, the COO now owns 19,675 shares of the company, valued at $2,659,863.25. Disclosure of this sale can be found here. Insiders own 0.06% of the shares of the company.
Several equity research analysts have weighed in on the company recently. 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 research report. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research report. JPMorgan Chase & Co. assumed Republic Services coverage in a research report on Tuesday, March 1. They set a “neutral” rating on the stock. Morgan Stanley cut its target price on Republic Services from $152.00 to $142.00 in a research report on Wednesday. To finish, StockNews.com alleged cover of the services of the Republic in a research report of Thursday, March 31. They have set a “Strong Buy” rating on the stock. Two research analysts gave the stock a hold rating, six issued a buy rating and two issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Buy” and a consensus target price of $138.14.
About Republic Services (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.
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