Strs Ohio reduced its stake in shares of Republic Services, Inc. (NYSE: RSG – Get a rating) by 13.6% in the 1st quarter, according to its latest communication to the SEC. The company held 26,432 shares of the business services provider after selling 4,153 shares during the period. Strs Ohio’s holdings in Republic Services were worth $3,502,000 when it last filed with the SEC.
A number of other major investors have also recently increased or reduced their stakes in the company. BlackRock Inc. increased its stake in Republic Services by 2.3% during the fourth quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider valued at $2,880,704,000 after purchasing an additional 466,966 shares during the period. State Street Corp increased its stake in Republic Services by 0.4% during the fourth quarter. State Street Corp now owns 10,143,176 shares of the business services provider valued at $1,419,062,000 after purchasing an additional 42,050 shares during the period. Nordea Investment Management AB increased its stake in Republic Services by 5.6% in the first quarter. Nordea Investment Management AB now owns 4,967,419 shares of the business services provider valued at $670,304,000 after purchasing an additional 264,112 shares during the period. Geode Capital Management LLC raised its position in Republic Services shares by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,459,637 shares of the business services provider valued at $620,473,000 after acquiring an additional 64,679 shares last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Republic Services in the fourth quarter worth approximately $499,246,000. 92.80% of the shares are held by institutional investors and hedge funds.
In other news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction that took place on Tuesday, June 7. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the transaction, the chief operating officer now owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in a legal filing with the SEC, available at this link. Additionally, CAO Brian A. Goebel sold 347 shares of the company in a trade that took place on Thursday, June 2. The shares were sold at an average price of $135.01, for a total value of $46,848.47. As a result 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. Company insiders own 0.06% of the company’s shares.
Several equity analysts have recently commented on RSG shares. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a Thursday, June 16 research report. Morgan Stanley lowered its price target on Republic Services from $152.00 to $142.00 and set an “overweight” rating on the stock in a Wednesday, June 22 research report. Bank of America downgraded Republic Services 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, May 13 research report . StockNews.com alleged cover of the services of the Republic in a research report of Thursday, March 31. They issued a “Strong Buy” rating on the stock. Finally, Raymond James raised his target price on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research report. Two analysts gave the stock a hold rating, six gave the stock a buy rating and two gave the stock a strong buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $138.14.
Shares of GSR action opened at $129.86 on Friday. Republic Services, Inc. has a 1-year minimum of $112.14 and a 1-year maximum of $145.98. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day simple moving average is $130.03 and its two-hundred-day simple moving average is $129.72. The company has a market capitalization of $41.02 billion, a PE ratio of 30.77, a growth price-earnings ratio of 2.68 and a beta of 0.73.
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 (EPS) of $1.14 for the quarter, beating analyst consensus estimates 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 a consensus estimate of $2.89 billion. In the same period a year earlier, the company posted earnings of $0.93 per share. The company’s quarterly revenue increased by 14.4% compared to the same quarter last year. Equity research analysts expect Republic Services, Inc. to 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 per share. The ex-date of this dividend 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%.
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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