BROOKFIELD Corp ON increased its stake in Republic Services, Inc. (NYSE:RSG – Free Report) by 68.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 22,502 shares of the business services provider’s stock after buying an additional 9,143 shares during the quarter. BROOKFIELD Corp ON’s holdings in Republic Services were worth $4,928,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in RSG. State Street Corp lifted its stake in Republic Services by 1.7% in the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after purchasing an additional 166,474 shares during the last quarter. Capital World Investors raised its stake in 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 period. Morgan Stanley lifted its holdings in Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP boosted its position in Republic Services by 18.9% during the fourth 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. Finally, Norges Bank purchased a new position in shares of Republic Services in the fourth quarter worth about $617,165,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.
Analyst Upgrades and Downgrades
RSG has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Robert W. Baird cut their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Finally, Citigroup raised their target price on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.89.
Insiders Place Their Bets
In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction 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 $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. Insiders bought a total of 987,150 shares of company stock worth $202,366,682 in the last three months. Insiders own 0.12% of the company’s stock.
Republic Services Price Performance
Republic Services stock opened at $216.79 on Monday. The stock has a market cap of $66.70 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 3.63 and a beta of 0.40. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The business has a 50-day simple moving average of $212.24 and a 200 day simple moving average of $214.86. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25.
Republic Services (NYSE:RSG – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the firm posted $1.58 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.
Republic Services Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were paid a $0.625 dividend. 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 payout ratio 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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