Unigestion Holding SA cut its stake in Republic Services, Inc. (NYSE:RSG) by 20.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,246 shares of the business services provider’s stock after selling 123,328 shares during the quarter. Unigestion Holding SA owned approximately 0.15% of Republic Services worth $41,652,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of RSG. Invesco Ltd. lifted its stake in Republic Services by 69.8% in the 2nd quarter. Invesco Ltd. now owns 6,537,731 shares of the business services provider’s stock valued at $566,428,000 after buying an additional 2,687,709 shares in the last quarter. Parnassus Investments CA purchased a new position in Republic Services in the 2nd quarter valued at about $93,307,000. Nuveen Asset Management LLC lifted its stake in Republic Services by 744.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 932,774 shares of the business services provider’s stock valued at $80,816,000 after buying an additional 822,340 shares in the last quarter. Marshall Wace North America L.P. lifted its stake in Republic Services by 10,353.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 675,728 shares of the business services provider’s stock valued at $58,545,000 after buying an additional 669,264 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Republic Services by 279.3% in the 2nd quarter. APG Asset Management N.V. now owns 812,901 shares of the business services provider’s stock valued at $61,846,000 after buying an additional 598,600 shares in the last quarter. 59.13% of the stock is currently owned by hedge funds and other institutional investors.
RSG has been the topic of a number of research reports. Stifel Nicolaus set a $95.00 price target on shares of Republic Services and gave the company a “buy” rating in a research note on Monday, September 23rd. Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the company a “hold” rating in a research note on Friday, July 26th. ValuEngine lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Berenberg Bank reiterated a “buy” rating and issued a $115.00 price objective on shares of Republic Services in a report on Friday, October 25th. Finally, Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Republic Services presently has a consensus rating of “Hold” and a consensus target price of $89.37.
RSG stock traded up $0.68 during mid-day trading on Friday, reaching $86.18. The company’s stock had a trading volume of 843,282 shares, compared to its average volume of 1,121,240. The stock has a market cap of $27.36 billion, a PE ratio of 27.89, a P/E/G ratio of 3.11 and a beta of 0.49. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.97. Republic Services, Inc. has a fifty-two week low of $68.94 and a fifty-two week high of $90.61. The company’s 50 day moving average is $86.60 and its two-hundred day moving average is $86.43.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.69 billion. Republic Services had a net margin of 10.58% and a return on equity of 13.13%. Republic Services’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. On average, analysts forecast that Republic Services, Inc. will post 3.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.405 dividend. The ex-dividend date of this dividend is Wednesday, January 1st. This represents a $1.62 dividend on an annualized basis and a yield of 1.88%. Republic Services’s payout ratio is 52.43%.
In other news, CEO Donald W. Slager sold 48,891 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $90.00, for a total transaction of $4,400,190.00. Following the completion of the sale, the chief executive officer now owns 333,846 shares in the company, valued at approximately $30,046,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Donald W. Slager sold 95,126 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $90.00, for a total transaction of $8,561,340.00. Following the sale, the chief executive officer now owns 382,736 shares of the company’s stock, valued at approximately $34,446,240. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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