Gabelli Funds LLC Reduces Stock Holdings in Republic Services, Inc. $RSG

Gabelli Funds LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 567,169 shares of the business services provider’s stock after selling 4,559 shares during the period. Republic Services comprises about 0.8% of Gabelli Funds LLC’s portfolio, making the stock its 18th biggest holding. Gabelli Funds LLC’s holdings in Republic Services were worth $120,200,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. RiverFront Investment Group LLC purchased a new position in Republic Services in the fourth quarter valued at approximately $682,000. Sapient Capital LLC lifted its stake in Republic Services by 15.7% in the fourth quarter. Sapient Capital LLC now owns 1,192 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 162 shares during the last quarter. North Dakota State Investment Board purchased a new position in Republic Services in the fourth quarter valued at approximately $1,472,000. Elyxium Wealth LLC purchased a new position in Republic Services in the fourth quarter valued at approximately $131,000. Finally, iA Global Asset Management Inc. lifted its stake in Republic Services by 18.5% in the fourth quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock valued at $13,606,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.1%

Shares of RSG stock opened at $208.12 on Monday. The business has a 50-day moving average price of $214.67 and a two-hundred day moving average price of $214.85. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $64.03 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 3.43 and a beta of 0.43.

Republic Services (NYSE:RSG) last announced its quarterly earnings data 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. The firm 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%.The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. Equities analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

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

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the purchase, the insider 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 499,150 shares of company stock valued at $100,527,357. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Scotiabank dropped their target price on Republic Services from $246.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 21st. Barclays increased their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. UBS Group dropped their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Finally, Citigroup dropped their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $245.15.

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.