Republic Services, Inc. $RSG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 46.0% during the fourth quarter, Holdings Channel reports. The fund owned 23,246 shares of the business services provider’s stock after selling 19,830 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Republic Services were worth $4,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Brighton Jones LLC lifted its stake in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares during the period. Federated Hermes Inc. grew its position in shares of Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock valued at $4,329,000 after acquiring an additional 3,303 shares during the period. NewEdge Advisors LLC increased its stake in shares of Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after purchasing an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Republic Services by 0.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock worth $23,336,000 after purchasing an additional 688 shares during the period. Finally, Ieq Capital LLC raised its holdings in Republic Services by 68.4% in the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after purchasing an additional 4,729 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 987,150 shares of company stock valued at $202,366,682 in the last quarter. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Robert W. Baird dropped their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. BMO Capital Markets decreased their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Citigroup dropped their price target on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Barclays upped their price objective on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company increased their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $245.15.

Republic Services Stock Performance

NYSE RSG opened at $210.59 on Monday. The company has a market cap of $64.79 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 3.46 and a beta of 0.41. The stock’s 50 day simple moving average is $209.81 and its 200-day simple moving average is $214.79. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $255.47. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last released its 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. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. As a group, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

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

Republic Services Company 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.