Victory Capital Management Inc. decreased its position in Republic Services, Inc. (NYSE:RSG) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 2,138,614 shares of the business services provider’s stock after selling 21,638 shares during the quarter. Victory Capital Management Inc.’s holdings in Republic Services were worth $154,173,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in RSG. Schroder Investment Management Group purchased a new stake in shares of Republic Services during the 2nd quarter worth $1,257,000. Bank of New York Mellon Corp lifted its stake in shares of Republic Services by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,330 shares of the business services provider’s stock worth $109,330,000 after purchasing an additional 9,301 shares during the last quarter. Lourd Capital LLC purchased a new stake in shares of Republic Services during the 3rd quarter worth $201,000. Bank of Montreal Can lifted its stake in shares of Republic Services by 12.8% during the 3rd quarter. Bank of Montreal Can now owns 662,622 shares of the business services provider’s stock worth $48,145,000 after purchasing an additional 75,236 shares during the last quarter. Finally, Tandem Investment Advisors Inc. lifted its stake in shares of Republic Services by 7.8% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 171,382 shares of the business services provider’s stock worth $12,453,000 after purchasing an additional 12,380 shares during the last quarter. 60.14% of the stock is currently owned by institutional investors and hedge funds.
Republic Services stock traded up $0.51 during midday trading on Tuesday, reaching $77.41. The company’s stock had a trading volume of 168,077 shares, compared to its average volume of 1,284,100. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.56 and a current ratio of 0.58. Republic Services, Inc. has a 52-week low of $62.03 and a 52-week high of $78.54. The stock has a market cap of $24.89 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Republic Services had a return on equity of 12.84% and a net margin of 10.33%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business posted $0.61 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Republic Services, Inc. will post 3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, March 29th. Republic Services’s dividend payout ratio (DPR) is presently 48.54%.
A number of equities research analysts recently weighed in on RSG shares. Oppenheimer restated a “hold” rating on shares of Republic Services in a research note on Friday, October 26th. BMO Capital Markets decreased their price objective on Republic Services from $79.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. KeyCorp started coverage on Republic Services in a research note on Monday, February 4th. They set a “sector weight” rating and a $77.73 price objective for the company. Zacks Investment Research restated a “hold” rating and set a $80.00 price objective on shares of Republic Services in a research note on Monday, December 31st. Finally, Goldman Sachs Group upgraded Republic Services to a “hold” rating and set a $79.00 price objective for the company in a research note on Tuesday, December 4th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.19.
In other news, CAO Brian A. Goebel sold 2,000 shares of the stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $74.25, for a total value of $148,500.00. Following the transaction, the chief accounting officer now directly owns 8,186 shares of the company’s stock, valued at $607,810.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 3,000 shares of the stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $72.97, for a total value of $218,910.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,186 shares in the company, valued at $670,302.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,000 shares of company stock valued at $581,220. 0.30% of the stock is currently owned by company insiders.
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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; supply of waste containers; and renting of compactors.
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