BI Asset Management Fondsmaeglerselskab A S Sells 10,244 Shares of Republic Services, Inc. $RSG

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 44.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 13,002 shares of the business services provider’s stock after selling 10,244 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Republic Services were worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock valued at $4,329,000 after purchasing an additional 3,303 shares during the period. NewEdge Advisors LLC lifted its stake in 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 during the last quarter. Treasurer of the State of North Carolina grew its holdings in Republic Services by 0.7% during the second 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 increased its position in Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after buying an additional 4,729 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the acquisition, the insider directly owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Republic Services Price Performance

Shares of NYSE RSG opened at $209.19 on Wednesday. The firm has a market cap of $64.36 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 3.36 and a beta of 0.41. The business’s 50 day moving average is $207.09 and its 200-day moving average is $214.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $251.17.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during 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 firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 EPS. Equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared 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 is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is 36.15%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Barclays lifted 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, Wolfe Research began coverage on shares of Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $243.26.

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.