Deutsche Bank AG boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 952,356 shares of the business services provider’s stock after acquiring an additional 234,395 shares during the quarter. Deutsche Bank AG owned about 0.29% of Republic Services worth $64,384,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of RSG. Raymond James Financial Services Advisors Inc. increased its stake in Republic Services by 23.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 98,884 shares of the business services provider’s stock worth $6,532,000 after acquiring an additional 18,915 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Republic Services by 6.0% during the third quarter. State of Wisconsin Investment Board now owns 217,965 shares of the business services provider’s stock worth $14,399,000 after acquiring an additional 12,276 shares during the last quarter. Prudential Financial Inc. increased its stake in Republic Services by 1.3% during the third quarter. Prudential Financial Inc. now owns 324,513 shares of the business services provider’s stock worth $21,437,000 after acquiring an additional 4,090 shares during the last quarter. Global X MANAGEMENT CO LLC increased its stake in Republic Services by 16.5% during the third quarter. Global X MANAGEMENT CO LLC now owns 12,179 shares of the business services provider’s stock worth $805,000 after acquiring an additional 1,724 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Republic Services by 3.3% during the third quarter. CIBC Asset Management Inc now owns 34,875 shares of the business services provider’s stock worth $2,304,000 after acquiring an additional 1,114 shares during the last quarter. 61.11% of the stock is currently owned by institutional investors.
In related news, CAO Brian A. Goebel sold 1,290 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total value of $88,287.60. Following the transaction, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at $458,274.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $67.57, for a total value of $135,140.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,696 shares in the company, valued at approximately $452,448.72. The disclosure for this sale can be found here. In the last three months, insiders sold 23,128 shares of company stock worth $1,553,897. 0.40% of the stock is owned by insiders.
Republic Services, Inc. (NYSE:RSG) opened at $69.00 on Wednesday. The company has a market capitalization of $22,804.05, a P/E ratio of 18.21, a PEG ratio of 2.18 and a beta of 0.55. Republic Services, Inc. has a 52 week low of $60.26 and a 52 week high of $69.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.55 and a current ratio of 0.55.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.56 billion for 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 company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. sell-side analysts forecast that Republic Services, Inc. will post 3.08 EPS for the current year.
The company also recently disclosed 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 dividend payout ratio (DPR) is currently 36.41%.
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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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