NewEdge Wealth LLC cut its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 58.0% during the first quarter, HoldingsChannel reports. The firm owned 3,301 shares of the business services provider’s stock after selling 4,553 shares during the period. NewEdge Wealth LLC’s holdings in Republic Services were worth $723,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. CI Investments Inc. grew its stake in shares of Republic Services by 40.6% in the 1st quarter. CI Investments Inc. now owns 71,455 shares of the business services provider’s stock valued at $15,650,000 after purchasing an additional 20,635 shares during the last quarter. Saturna Capital Corp raised its position in Republic Services by 1.5% during the 1st quarter. Saturna Capital Corp now owns 13,009 shares of the business services provider’s stock worth $2,849,000 after buying an additional 190 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of Republic Services in the 1st quarter worth $95,000. Meeder Advisory Services Inc. increased its stake in shares of Republic Services by 25.9% during the first quarter. Meeder Advisory Services Inc. now owns 6,101 shares of the business services provider’s stock worth $1,336,000 after acquiring an additional 1,254 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Republic Services by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,734,798 shares of the business services provider’s stock worth $380,008,000 after acquiring an additional 131,298 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.
Insider Buying and Selling
In related news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 987,150 shares of company stock valued at $202,366,682 over the last quarter. Company insiders own 0.12% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on RSG
Republic Services Stock Down 0.1%
RSG stock opened at $216.74 on Tuesday. The company has a market capitalization of $66.68 billion, a P/E ratio of 31.10, a PEG ratio of 3.63 and a beta of 0.40. The firm has a 50 day simple moving average of $212.28 and a 200-day simple moving average of $214.91. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.25.
Republic Services (NYSE:RSG – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.
Republic Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued 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 of this dividend was Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 35.87%.
Republic Services 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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