Ingalls & Snyder LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.6% during the fourth quarter, Holdings Channel reports. The firm owned 28,018 shares of the business services provider’s stock after selling 165 shares during the period. Ingalls & Snyder LLC’s holdings in Republic Services were worth $2,511,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in RSG. Invesco Ltd. raised its holdings in Republic Services by 69.8% during the second quarter. Invesco Ltd. now owns 6,537,731 shares of the business services provider’s stock worth $566,428,000 after purchasing an additional 2,687,709 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Republic Services by 744.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 932,774 shares of the business services provider’s stock valued at $80,816,000 after acquiring an additional 822,340 shares during the period. Marshall Wace North America L.P. increased its holdings in shares of Republic Services by 10,353.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 675,728 shares of the business services provider’s stock valued at $58,545,000 after acquiring an additional 669,264 shares during the period. BlackRock Inc. increased its holdings in shares of Republic Services by 2.7% in the 2nd quarter. BlackRock Inc. now owns 21,974,898 shares of the business services provider’s stock valued at $1,903,906,000 after acquiring an additional 581,754 shares during the period. Finally, Parnassus Investments CA increased its holdings in shares of Republic Services by 49.2% in the 3rd quarter. Parnassus Investments CA now owns 1,607,217 shares of the business services provider’s stock valued at $139,105,000 after acquiring an additional 530,272 shares during the period. 57.87% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on RSG. Jefferies Financial Group began coverage on shares of Republic Services in a report on Wednesday, November 27th. They issued a “buy” rating and a $100.00 target price on the stock. Stifel Nicolaus set a $95.00 target price on shares of Republic Services and gave the company a “buy” rating in a report on Monday, September 23rd. CIBC assumed coverage on shares of Republic Services in a report on Tuesday, December 17th. They issued a “neutral” rating and a $99.00 target price on the stock. ValuEngine lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lowered shares of Republic Services from a “buy” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.86.
Shares of NYSE RSG opened at $92.56 on Thursday. The firm has a market capitalization of $29.31 billion, a P/E ratio of 29.95, a PEG ratio of 3.12 and a beta of 0.49. Republic Services, Inc. has a one year low of $74.19 and a one year high of $92.94. The company’s fifty day moving average is $89.56 and its two-hundred day moving average is $87.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.49 and a current ratio of 0.49.
Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, October 30th. The business services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.69 billion. Republic Services had a net margin of 10.58% and a return on equity of 13.13%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 3.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Wednesday, January 1st. This represents a $1.62 annualized dividend and a dividend yield of 1.75%. Republic Services’s payout ratio is currently 52.43%.
In related news, insider Welborn John 3,000,000 shares of the company’s stock in a transaction dated Thursday, November 21st. Also, CAO Brian A. Goebel sold 2,000 shares of Republic Services stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $89.72, for a total value of $179,440.00. Following the transaction, the chief accounting officer now directly owns 8,186 shares of the company’s stock, valued at approximately $734,447.92. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
Republic Services Company Profile
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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