USS Investment Management Ltd cut its stake in Republic Services, Inc. (NYSE:RSG – Free Report) by 22.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,418 shares of the business services provider’s stock after selling 11,989 shares during the quarter. USS Investment Management Ltd’s holdings in Republic Services were worth $9,292,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of RSG. Norges Bank purchased a new stake in Republic Services in the fourth quarter worth about $617,165,000. Capital World Investors grew its holdings in shares of Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Morgan Stanley raised its position in shares of Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after acquiring an additional 1,490,719 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Republic Services by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after acquiring an additional 807,525 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Republic Services by 118.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider’s stock valued at $214,376,000 after purchasing an additional 548,926 shares during the period. Institutional investors own 57.73% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on RSG shares. Royal Bank Of Canada upped their price target on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Barclays boosted their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Finally, UBS Group dropped their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.26.
Republic Services Stock Up 0.8%
Shares of NYSE:RSG opened at $214.75 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $207.59 and a two-hundred day simple moving average of $214.18. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The stock has a market capitalization of $66.07 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 3.51 and a beta of 0.40.
Republic Services (NYSE:RSG – Get Free Report) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. On average, research analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.
Republic Services Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.
Insider Activity
In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the transaction, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 987,150 shares of company stock valued at $202,366,682 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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