BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 53,831 shares of the business services provider’s stock after purchasing an additional 3,210 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Republic Services were worth $3,881,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Townsend & Associates Inc lifted its stake in shares of Republic Services by 5.8% in the fourth quarter. Townsend & Associates Inc now owns 14,718 shares of the business services provider’s stock worth $1,061,000 after buying an additional 813 shares in the last quarter. MACRO Consulting Group purchased a new position in Republic Services during the fourth quarter worth about $1,685,000. Taylor Cottrill Erickson & Associates Inc. raised its stake in Republic Services by 1.3% during the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 58,440 shares of the business services provider’s stock worth $4,213,000 after purchasing an additional 750 shares during the period. California Public Employees Retirement System raised its stake in Republic Services by 49.0% during 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 purchasing an additional 387,583 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Republic Services by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 939,885 shares of the business services provider’s stock worth $68,292,000 after purchasing an additional 21,150 shares during the period. 59.86% of the stock is currently owned by hedge funds and other institutional investors.
In other Republic Services news, CAO Brian A. Goebel sold 3,000 shares of Republic Services stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $72.97, for a total transaction of $218,910.00. Following the completion of the sale, the chief accounting officer now directly owns 9,186 shares in the company, valued at $670,302.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian A. Goebel sold 2,000 shares of Republic Services stock in a transaction dated 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 of the company’s stock, valued at $607,810.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,000 shares of company stock valued at $581,220. Company insiders own 0.30% of the company’s stock.
RSG has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Republic Services from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp initiated coverage on shares of Republic Services in a research note on Monday, February 4th. They set a “sector weight” rating and a $77.73 target price on the stock. Goldman Sachs Group raised shares of Republic Services to a “hold” rating and set a $79.00 target price on the stock in a research note on Tuesday, December 4th. Finally, UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $83.00 to $77.00 in a research note on Thursday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.59.
Shares of RSG opened at $78.93 on Friday. Republic Services, Inc. has a 1-year low of $64.13 and a 1-year high of $79.09. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 2.73 and a beta of 0.58. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.96.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Republic Services had a net margin of 10.33% and a return on equity of 12.84%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that Republic Services, Inc. will post 3.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, March 29th. Republic Services’s dividend payout ratio is presently 48.54%.
Republic Services 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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