Great Lakes Advisors LLC Decreases Holdings in Republic Services, Inc. (RSG)

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Great Lakes Advisors LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 4.5% in the first quarter, HoldingsChannel reports. The firm owned 7,286 shares of the business services provider’s stock after selling 340 shares during the quarter. Great Lakes Advisors LLC’s holdings in Republic Services were worth $585,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Republic Services by 8.4% during the fourth quarter. BlackRock Inc. now owns 20,563,044 shares of the business services provider’s stock valued at $1,482,389,000 after acquiring an additional 1,600,885 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Republic Services by 0.6% during the third quarter. Vanguard Group Inc now owns 18,743,008 shares of the business services provider’s stock valued at $1,361,867,000 after acquiring an additional 115,598 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Republic Services by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,206,334 shares of the business services provider’s stock valued at $303,237,000 after acquiring an additional 118,090 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Republic Services by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock valued at $275,009,000 after acquiring an additional 324,355 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Republic Services by 13,200.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 3,294,212 shares in the last quarter. Hedge funds and other institutional investors own 60.09% of the company’s stock.

Several equities analysts have recently weighed in on RSG shares. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a report on Monday, April 29th. KeyCorp initiated coverage on Republic Services in a report on Monday, February 4th. They issued a “sector weight” rating and a $77.73 price objective for the company. Royal Bank of Canada initiated coverage on Republic Services in a report on Wednesday, May 1st. They issued a “sector perform” rating and a $87.00 price objective for the company. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Monday, February 18th. Finally, UBS Group lifted their price objective on Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $81.97.

NYSE RSG opened at $84.56 on Friday. Republic Services, Inc. has a one year low of $66.83 and a one year high of $85.40. The stock has a market capitalization of $27.19 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.77 and a beta of 0.57. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.86.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $0.74 EPS. Republic Services’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that Republic Services, Inc. will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.375 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.50 annualized dividend and a yield of 1.77%. Republic Services’s payout ratio is 48.54%.

In other Republic Services news, Director Ramon A. Rodriguez sold 5,480 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $79.75, for a total value of $437,030.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey A. Hughes sold 10,118 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $80.40, for a total value of $813,487.20. The disclosure for this sale can be found here. Insiders sold 151,575 shares of company stock worth $12,472,125 over the last three months. Insiders own 0.30% of the company’s stock.

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About Republic Services

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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