C WorldWide Group Holding A S grew its position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 62.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 913,159 shares of the business services provider’s stock after buying an additional 351,378 shares during the quarter. Republic Services comprises about 4.3% of C WorldWide Group Holding A S’s investment portfolio, making the stock its 10th largest position. C WorldWide Group Holding A S’s holdings in Republic Services were worth $200,000,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in Republic Services during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new stake in Republic Services in the 3rd quarter worth approximately $26,000. Prosperity Bancshares Inc bought a new stake in shares of Republic Services in the 4th quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Republic Services during the fourth quarter valued at approximately $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares in the company, valued at $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.
Republic Services Price Performance
Republic Services (NYSE:RSG – Get Free Report) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the business earned $1.58 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.
Republic Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services’s payout ratio is 35.87%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on RSG. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. UBS Group dropped their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Robert W. Baird cut their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Royal Bank Of Canada increased their price target on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $243.89.
View Our Latest Research Report on Republic Services
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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