Glenmede Trust Co. NA reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,423 shares of the business services provider’s stock after selling 1,276 shares during the quarter. Glenmede Trust Co. NA owned 0.06% of Republic Services worth $14,225,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Patten Group Inc. boosted its stake in shares of Republic Services by 279.6% during the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock worth $327,000 after acquiring an additional 13,839 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Republic Services by 9.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock worth $1,230,000 after acquiring an additional 1,544 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Republic Services during the 3rd quarter worth about $1,897,000. CGOV Asset Management boosted its stake in shares of Republic Services by 25.0% during the 4th quarter. CGOV Asset Management now owns 10,000 shares of the business services provider’s stock worth $846,000 after acquiring an additional 2,000 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Republic Services by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 920,619 shares of the business services provider’s stock worth $60,816,000 after acquiring an additional 19,306 shares in the last quarter. 61.06% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS assumed coverage on shares of Republic Services in a research note on Wednesday, March 14th. They set a “buy” rating and a $78.00 target price on the stock. Credit Suisse Group decreased their price target on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. BMO Capital Markets decreased their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. Finally, Bank of America raised their price target on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.75.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company posted $0.57 EPS. The business’s revenue was up 7.6% on a year-over-year basis. equities analysts anticipate that Republic Services, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 29th. Republic Services’s dividend payout ratio (DPR) is 36.41%.
In other Republic Services news, Director Ramon A. Rodriguez sold 8,118 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $66.62, for a total value of $540,821.16. Following the transaction, the director now directly owns 4,118 shares of the company’s stock, valued at approximately $274,341.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ark Jon Vander sold 9,236 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $68.45, for a total transaction of $632,204.20. Following the completion of the transaction, the chief operating officer now directly owns 12,011 shares in the company, valued at $822,152.95. The disclosure for this sale can be found here. Insiders sold a total of 32,364 shares of company stock worth $2,186,101 over the last three months. Corporate insiders own 0.40% of the company’s stock.
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Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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