Republic Services, Inc. $RSG Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,055,366 shares of the business services provider’s stock after selling 130,564 shares during the quarter. Franklin Resources Inc.’s holdings in Republic Services were worth $435,594,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services during the third quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Republic Services in the 3rd quarter worth about $29,000. Sound Income Strategies LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services during the 4th quarter worth about $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the purchase, the insider directly owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased a total of 987,150 shares of company stock valued at $202,366,682 in the last quarter. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Morgan Stanley reduced their target price on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. JPMorgan Chase & Co. increased their price target on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Finally, UBS Group reduced their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Republic Services Stock Down 2.5%

Shares of NYSE:RSG opened at $204.78 on Tuesday. The firm has a market cap of $63.00 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.41. The company has a fifty day simple moving average of $209.57 and a 200 day simple moving average of $214.72. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $253.38.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 EPS. On average, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 35.87%.

About Republic Services

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.