ING Groep NV reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,768 shares of the business services provider’s stock after selling 1,544 shares during the period. ING Groep NV’s holdings in Republic Services were worth $739,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new stake in Republic Services during the fourth quarter valued at approximately $120,000. Cribstone Capital Management LLC acquired a new stake in Republic Services during the first quarter valued at approximately $121,000. TLP Group LLC acquired a new stake in Republic Services during the third quarter valued at approximately $125,000. M&R Capital Management Inc. increased its stake in Republic Services by 120.0% in the fourth quarter. M&R Capital Management Inc. now owns 2,200 shares of the business services provider’s stock valued at $125,000 after buying an additional 1,200 shares during the period. Finally, Independent Advisor Alliance acquired a new stake in Republic Services during the fourth quarter valued at approximately $173,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.
Shares of Republic Services, Inc. (NYSE:RSG) traded up 0.21% during trading on Friday, reaching $63.23. 1,556,640 shares of the company’s stock traded hands. The company has a 50 day moving average of $62.90 and a 200-day moving average of $58.34. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 33.63 and a beta of 0.59. Republic Services, Inc. has a 1-year low of $47.27 and a 1-year high of $64.11.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Republic Services had a return on equity of 9.62% and a net margin of 6.40%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. Equities analysts predict that Republic Services, Inc. will post $2.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Monday, July 3rd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, June 29th. Republic Services’s payout ratio is 74.85%.
RSG has been the subject of several research reports. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Republic Services from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, February 13th. Barclays PLC downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $55.00 to $57.00 in a research report on Wednesday, March 1st. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Republic Services in a research report on Friday, February 17th. Finally, Credit Suisse Group AG set a $63.00 price target on shares of Republic Services and gave the company a “hold” rating in a research report on Sunday, April 30th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Republic Services presently has an average rating of “Hold” and a consensus target price of $64.80.
In other Republic Services news, EVP Catharine D. Ellingsen sold 1,625 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $62.21, for a total value of $101,091.25. Following the sale, the executive vice president now directly owns 3,589 shares in the company, valued at $223,271.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomago Collins sold 1,280 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $61.77, for a total value of $79,065.60. Following the completion of the sale, the director now owns 9,823 shares in the company, valued at $606,766.71. The disclosure for this sale can be found here. Insiders sold 155,996 shares of company stock worth $9,575,351 over the last quarter. 0.50% of the stock is currently owned by company insiders.
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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