CGOV Asset Management raised its stake in Republic Services, Inc. (NYSE:RSG) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,000 shares of the business services provider’s stock after acquiring an additional 2,000 shares during the period. CGOV Asset Management’s holdings in Republic Services were worth $846,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Republic Services by 6.4% in the 2nd quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after acquiring an additional 1,223,613 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Republic Services by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after buying an additional 418,797 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Republic Services by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock worth $453,398,000 after buying an additional 23,456 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Republic Services by 2.2% in the 3rd quarter. Wells Fargo & Company MN now owns 5,201,905 shares of the business services provider’s stock worth $343,639,000 after buying an additional 114,211 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Republic Services by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock worth $254,177,000 after buying an additional 102,801 shares during the last quarter. Institutional investors own 59.90% of the company’s stock.
In related news, CAO Brian A. Goebel sold 2,000 shares of Republic Services stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $67.88, for a total transaction of $135,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,696 shares of the company’s stock, valued at approximately $454,524.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Donald W. Slager sold 98,132 shares of Republic Services stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the transaction, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at $20,703,906.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,553 shares of company stock valued at $8,509,797. 0.40% of the stock is owned by corporate insiders.
Republic Services, Inc. (NYSE RSG) traded down $0.45 during trading on Thursday, hitting $67.53. 769,200 shares of the stock were exchanged, compared to its average volume of 1,443,300. Republic Services, Inc. has a 12-month low of $56.52 and a 12-month high of $69.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54. The company has a market cap of $22,700.00, a P/E ratio of 28.61, a PEG ratio of 3.12 and a beta of 0.61.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. sell-side analysts forecast that Republic Services, Inc. will post 2.4 earnings per share for the current year.
Republic Services declared that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.345 per share. The ex-dividend date is Friday, December 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.04%. Republic Services’s dividend payout ratio is presently 58.47%.
RSG has been the topic of a number of research reports. Stifel Nicolaus downgraded shares of Republic Services from a “buy” rating to a “hold” rating and reduced their target price for the stock from $76.00 to $70.00 in a report on Wednesday, October 4th. Bank of America reduced their target price on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. BMO Capital Markets restated a “buy” rating and issued a $72.00 target price on shares of Republic Services in a report on Friday, October 13th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, Credit Suisse Group reduced their target price on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Republic Services presently has an average rating of “Hold” and a consensus target price of $68.14.
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Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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