Rockefeller Capital Management L.P. Lowers Stock Holdings in Republic Services, Inc. $RSG

Rockefeller Capital Management L.P. cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 339,620 shares of the business services provider’s stock after selling 62,455 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.11% of Republic Services worth $71,976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Republic Services by 1.7% during the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after acquiring an additional 166,474 shares during the period. Capital World Investors grew its holdings in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley increased its position in Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP raised its stake in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after purchasing an additional 807,525 shares during the period. Finally, Norges Bank acquired a new position in shares of Republic Services in the 4th quarter valued at $617,165,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RSG shares. JPMorgan Chase & Co. upped their price objective on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Royal Bank Of Canada boosted their price target on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Wolfe Research began coverage on Republic Services in a research note on Friday, March 13th. They set a “peer perform” rating for the company. Citigroup reduced their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their target price on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Stock Down 0.0%

NYSE RSG opened at $204.87 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $251.17. The business has a 50 day moving average price of $207.44 and a two-hundred day moving average price of $214.17. The stock has a market cap of $63.03 billion, a PE ratio of 29.39, a P/E/G ratio of 3.37 and a beta of 0.41.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. As a group, sell-side analysts predict that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is currently 36.15%.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.