Bessemer Group Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 55.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,274,507 shares of the business services provider’s stock after purchasing an additional 453,336 shares during the period. Bessemer Group Inc.’s holdings in Republic Services were worth $279,143,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Republic Services during the fourth quarter valued at about $617,165,000. Capital World Investors lifted its stake in shares of Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after acquiring an additional 1,899,183 shares during the last quarter. Morgan Stanley boosted its holdings in Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after acquiring an additional 1,490,719 shares during the period. Allspring Global Investments Holdings LLC grew its position in Republic Services by 68.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock worth $497,828,000 after acquiring an additional 913,249 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in 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 purchasing an additional 807,525 shares during the period. 57.73% of the stock is owned by institutional investors.
Insider Activity at Republic Services
In other news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services 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 sale, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.
Republic Services Stock Up 3.2%
Republic Services (NYSE:RSG – Get Free Report) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.58 EPS. Research analysts anticipate that Republic Services, Inc. will post 7.29 EPS for the current year.
Republic Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a $0.625 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 35.87%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Royal Bank Of Canada boosted their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. UBS Group decreased their target price 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. Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $243.89.
Get Our Latest Stock Analysis on Republic Services
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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