Alliancebernstein L.P. boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 842,866 shares of the business services provider’s stock after purchasing an additional 18,353 shares during the quarter. Alliancebernstein L.P. owned approximately 0.25% of Republic Services worth $56,986,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Republic Services by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 2,884,821 shares of the business services provider’s stock worth $194,696,000 after purchasing an additional 285,988 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Republic Services by 5.1% during the fourth quarter. Allianz Asset Management GmbH now owns 1,241,638 shares of the business services provider’s stock worth $83,946,000 after purchasing an additional 60,791 shares in the last quarter. Amalgamated Bank boosted its position in Republic Services by 9.6% during the fourth quarter. Amalgamated Bank now owns 28,908 shares of the business services provider’s stock worth $1,954,000 after purchasing an additional 2,533 shares in the last quarter. Mackenzie Financial Corp boosted its position in Republic Services by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 29,626 shares of the business services provider’s stock worth $2,003,000 after purchasing an additional 913 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC purchased a new stake in Republic Services during the fourth quarter worth $5,770,000. Institutional investors own 61.11% of the company’s stock.
RSG has been the subject of a number of analyst reports. Zacks Investment Research cut Republic Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Bank of America boosted their price target on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $73.00 in a report on Thursday, January 4th. Credit Suisse Group cut their price target on Republic Services from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Finally, BMO Capital Markets cut their price target on Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $68.57.
Republic Services, Inc. (RSG) opened at $68.85 on Tuesday. Republic Services, Inc. has a 1-year low of $60.26 and a 1-year high of $69.40. The firm has a market capitalization of $22,820.00, a price-to-earnings ratio of 18.21, a PEG ratio of 2.19 and a beta of 0.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. equities research analysts anticipate that Republic Services, Inc. will post 3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be paid a $0.345 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.38 annualized dividend and a yield of 2.00%. Republic Services’s payout ratio is currently 36.51%.
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About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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