Macquarie Group Ltd. reduced its stake in Republic Services, Inc. (NYSE:RSG) by 8.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,500 shares of the business services provider’s stock after selling 400 shares during the period. Macquarie Group Ltd.’s holdings in Republic Services were worth $324,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in RSG. Matthew Goff Investment Advisor LLC raised its stake in Republic Services by 2,317.5% in the third quarter. Matthew Goff Investment Advisor LLC now owns 12,266,686 shares of the business services provider’s stock worth $507,412,000 after buying an additional 11,759,274 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Republic Services by 13,200.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock worth $46,000 after buying an additional 3,294,212 shares in the last quarter. BlackRock Inc. raised its stake in Republic Services by 8.4% in the fourth quarter. BlackRock Inc. now owns 20,563,044 shares of the business services provider’s stock worth $1,482,389,000 after buying an additional 1,600,885 shares in the last quarter. Pactiv General Employee Benefit Trust bought a new position in Republic Services in the fourth quarter worth about $60,271,000. Finally, California Public Employees Retirement System raised its stake in Republic Services by 49.0% in the fourth quarter. California Public Employees Retirement System now owns 1,179,278 shares of the business services provider’s stock worth $85,014,000 after buying an additional 387,583 shares in the last quarter. 60.76% of the stock is owned by institutional investors.
In other news, EVP Jeffrey A. Hughes sold 10,118 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $80.40, for a total transaction of $813,487.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian A. Goebel sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $74.25, for a total transaction of $148,500.00. Following the sale, the chief accounting officer now owns 8,186 shares in the company, valued at approximately $607,810.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,700 shares of company stock worth $1,729,597. Corporate insiders own 0.30% of the company’s stock.
Shares of RSG opened at $79.08 on Tuesday. The stock has a market capitalization of $25.41 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.69 and a beta of 0.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.58 and a current ratio of 0.58. Republic Services, Inc. has a fifty-two week low of $64.13 and a fifty-two week high of $81.20.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Republic Services had a net margin of 10.33% and a return on equity of 12.84%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 3.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, March 29th. Republic Services’s dividend payout ratio (DPR) is presently 48.54%.
A number of research firms recently issued reports on RSG. UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $83.00 to $77.00 in a research note on Thursday, January 10th. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Stifel Nicolaus downgraded shares of Republic Services from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $79.10.
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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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