Retirement Systems of Alabama reduced its stake in Republic Services, Inc. (NYSE: RSG – Get a rating) by 80.0% in the first quarter, Holdings Channel.com reports. The company held 69,197 shares of the business services provider after selling 276,589 shares during the quarter. Retirement Systems of Alabama’s holdings in Republic Services were worth $9,169,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Godsey & Gibb Associates bought a new equity stake in Republic Services in the fourth quarter worth about $28,000. Glassman Wealth Services increased its stake in Republic Services by 116.8% in the first quarter. Glassman Wealth Services now owns 206 shares of the business services provider worth $27,000 after buying 111 additional shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new position in Republic Services in the fourth quarter worth approximately $32,000. Confluence Wealth Services Inc. acquired a new position in Republic Services in the fourth quarter worth approximately $33,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in Republic Services during the fourth quarter worth approximately $38,000. 92.80% of the shares are held by institutional investors and hedge funds.
Several equity research analysts have recently weighed in on RSG shares. Morgan Stanley cut its price target on Republic Services from $152.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, June 22 research report. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its share price target from $140.00 to $150.00 in a Friday, May 13 research report . Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 for the company in a Thursday, June 16 report. StockNews.com launched coverage on Republic services in a report on Thursday, March 31. They established a “Strong Buy” rating for the company. Finally, Raymond James raised his target price on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research note. Two equity research analysts gave the stock a hold rating, six issued a buy rating and two issued a strong buy rating for the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $138.14.
Actions of the services of the Republic opened at $133.04 on Tuesday. Republic Services, Inc. has a 1-year minimum of $110.39 and a 1-year maximum of $145.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. The company has a market capitalization of $42.03 billion, a P/E ratio of 31.53, a PEG ratio of 2.71 and a beta of 0.73. The company has a 50-day moving average of $130.50 and a 200-day moving average of $129.75.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly earnings data 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. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company posted revenue of $2.97 billion for the quarter, versus $2.89 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.93. Republic Services revenue for the quarter increased 14.4% year over year. Research analysts expect Republic Services, Inc. to post EPS of 4.67 for the current fiscal year.
The company also recently disclosed 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 per share. This represents an annualized dividend of $1.84 and a dividend yield of 1.38%. The ex-date of this dividend is Thursday, June 30. Republic Services’ dividend payout ratio (DPR) is currently 43.60%.
In other Republic Services news, CAO Brian A. Goebel sold 347 shares of the company in a trade that took place Thursday, June 2. The stock was sold at an average price of $135.01, for a total value of $46,848.47. As a result of the sale, the accounting chief now owns 6,186 shares of the company, valued at approximately $835,171.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction 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 approximately $2,659,863.25. Disclosure of this sale can be found here. Insiders own 0.06% of the shares of the company.
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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