Aviva PLC increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 27.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,803 shares of the business services provider’s stock after acquiring an additional 26,165 shares during the quarter. Aviva PLC’s holdings in Republic Services were worth $9,218,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Republic Services in the 4th quarter valued at $235,611,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Republic Services by 774.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 819,794 shares of the business services provider’s stock worth $61,533,000 after purchasing an additional 726,083 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Republic Services by 19.5% during the first quarter. Pictet Asset Management Ltd. now owns 4,020,354 shares of the business services provider’s stock valued at $301,768,000 after buying an additional 655,789 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Republic Services by 47.4% in the first quarter. Franklin Resources Inc. now owns 2,023,286 shares of the business services provider’s stock valued at $151,872,000 after buying an additional 651,006 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Republic Services by 11.8% during the first quarter. JPMorgan Chase & Co. now owns 4,876,000 shares of the business services provider’s stock worth $365,991,000 after buying an additional 515,787 shares in the last quarter. Hedge funds and other institutional investors own 56.88% of the company’s stock.
In other Republic Services news, CFO Charles F. Serianni sold 1,500 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $79.85, for a total transaction of $119,775.00. Following the sale, the chief financial officer now owns 45,656 shares of the company’s stock, valued at approximately $3,645,631.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Timothy E. Stuart sold 3,580 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $80.00, for a total transaction of $286,400.00. Following the completion of the sale, the chief operating officer now owns 18,290 shares of the company’s stock, valued at approximately $1,463,200. The disclosure for this sale can be found here. Insiders have sold a total of 8,080 shares of company stock valued at $641,015 over the last ninety days. Insiders own 0.20% of the company’s stock.
Shares of Republic Services stock traded down $4.11 during mid-day trading on Thursday, reaching $82.54. 49,862 shares of the stock were exchanged, compared to its average volume of 1,469,447. Republic Services, Inc. has a fifty-two week low of $65.37 and a fifty-two week high of $100.91. The company has a market cap of $28.59 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 3.26 and a beta of 0.63. The firm has a 50-day simple moving average of $81.56 and a 200 day simple moving average of $86.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, May 5th. The business services provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Republic Services had a net margin of 10.45% and a return on equity of 13.47%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, research analysts predict that Republic Services, Inc. will post 2.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.62 dividend on an annualized basis and a yield of 1.96%. Republic Services’s dividend payout ratio (DPR) is presently 48.50%.
A number of brokerages have commented on RSG. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating and set a $87.00 price objective for the company in a research report on Monday, May 11th. Jefferies Financial Group lowered Republic Services from a “buy” rating to a “hold” rating and cut their target price for the company from $83.00 to $81.00 in a research note on Tuesday, April 14th. Robert W. Baird began coverage on shares of Republic Services in a research note on Thursday, May 28th. They set an “outperform” rating and a $90.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of Republic Services from $108.00 to $87.00 in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. raised shares of Republic Services from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $102.00 to $85.00 in a report on Monday, March 30th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Republic Services has an average rating of “Buy” and an average price target of $89.54.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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