Nippon Life Global Investors Americas Inc. lowered its stake in Republic Services (NYSE:RSG) by 26.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 45,640 shares of the business services provider’s stock after selling 16,640 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Republic Services were worth $3,023,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stake in Republic Services in the 4th quarter valued at $121,000. Benjamin F. Edwards & Company Inc. grew its stake in Republic Services by 507.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 1,523 shares during the period. Signaturefd LLC acquired a new stake in Republic Services in the 1st quarter valued at $149,000. Tower Research Capital LLC TRC grew its stake in Republic Services by 1,070.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock valued at $199,000 after acquiring an additional 2,686 shares during the period. Finally, Focused Wealth Management Inc acquired a new stake in Republic Services in the 4th quarter valued at $199,000. 60.16% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Ramon A. Rodriguez sold 8,118 shares of Republic Services stock in a transaction on Monday, February 26th. The stock was sold at an average price of $66.62, for a total transaction of $540,821.16. Following the transaction, the director now owns 4,118 shares in the company, valued at approximately $274,341.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Ark Jon Vander sold 9,236 shares of Republic Services stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $68.45, for a total value of $632,204.20. Following the transaction, the chief operating officer now owns 12,011 shares in the company, valued at approximately $822,152.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,854 shares of company stock worth $1,743,880. Insiders own 0.30% of the company’s stock.
Shares of RSG opened at $67.10 on Wednesday. Republic Services has a 52-week low of $60.26 and a 52-week high of $69.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.54.
Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, May 2nd. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.06. Republic Services had a net margin of 13.18% and a return on equity of 11.29%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. analysts forecast that Republic Services will post 3.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.345 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.06%. Republic Services’s dividend payout ratio is presently 56.79%.
A number of research firms recently issued reports on RSG. UBS assumed coverage on shares of Republic Services in a research note on Wednesday, March 14th. They issued a “buy” rating and a $78.00 price target on the stock. Zacks Investment Research cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Bank of America lifted their target price on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Argus raised shares of Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, May 10th. Finally, Raymond James cut shares of Republic Services from a “strong-buy” rating to a “market perform” rating and set a $72.00 target price on the stock. in a research note on Wednesday, April 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.14.
About Republic Services
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; supply of waste containers; and renting of compactors.
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