Gabelli Funds LLC Sells 18,884 Shares of Republic Services, Inc. $RSG

Gabelli Funds LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 3.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 548,285 shares of the business services provider’s stock after selling 18,884 shares during the period. Republic Services accounts for 0.8% of Gabelli Funds LLC’s portfolio, making the stock its 16th largest position. Gabelli Funds LLC’s holdings in Republic Services were worth $120,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new position in Republic Services during the 3rd quarter valued at $26,000. Laurel Wealth Advisors LLC bought a new position in Republic Services in the 4th quarter valued at $25,000. Prosperity Bancshares Inc purchased a new stake in Republic Services in the fourth quarter worth $30,000. Sound Income Strategies LLC bought a new stake in shares of Republic Services during the fourth quarter worth $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services during the fourth quarter valued at $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on RSG shares. Citigroup raised their price target on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Robert W. Baird dropped their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. UBS Group reduced their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Barclays lifted their price target on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.89.

Insiders Place Their Bets

In other news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price 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 in the company, valued at $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by company insiders.

Republic Services Stock Down 0.3%

Shares of Republic Services stock opened at $216.79 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $66.70 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 3.64 and a beta of 0.40. The firm’s 50-day moving average is $212.24 and its two-hundred day moving average is $214.85. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were paid a $0.625 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is 35.87%.

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.