BNP Paribas Financial Markets Has $142.23 Million Stock Position in Republic Services, Inc. $RSG

BNP Paribas Financial Markets lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 671,095 shares of the business services provider’s stock after selling 236,640 shares during the quarter. BNP Paribas Financial Markets’ holdings in Republic Services were worth $142,225,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Republic Services by 7,683.2% in the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock valued at $169,768,000 after buying an additional 730,287 shares during the last quarter. National Pension Service boosted its holdings in shares of Republic Services by 1.2% in the 3rd quarter. National Pension Service now owns 758,644 shares of the business services provider’s stock valued at $174,094,000 after buying an additional 9,041 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Republic Services in the 3rd quarter valued at approximately $3,524,000. SteelPeak Wealth LLC boosted its holdings in shares of Republic Services by 130.0% in the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock valued at $2,625,000 after buying an additional 7,001 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Republic Services by 68.8% in the 3rd quarter. Citigroup Inc. now owns 352,462 shares of the business services provider’s stock valued at $80,883,000 after buying an additional 143,704 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the subject of several recent analyst reports. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Royal Bank Of Canada increased their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Morgan Stanley dropped their price target on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Finally, UBS Group dropped their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $245.15.

Republic Services Stock Performance

NYSE:RSG opened at $200.32 on Monday. The stock’s 50-day simple moving average is $211.11 and its 200 day simple moving average is $214.88. The firm has a market capitalization of $61.63 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.30 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.Republic Services’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 36.15%.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider directly owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 987,150 shares of company stock valued at $202,366,682 over the last quarter. Company insiders own 0.12% of the company’s stock.

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.