Shell Asset Management Co. Reduces Position in Republic Services, Inc. (RSG)

Shell Asset Management Co. decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 56.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,059 shares of the business services provider’s stock after selling 136,541 shares during the quarter. Shell Asset Management Co.’s holdings in Republic Services were worth $7,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its holdings in Republic Services by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 78 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Republic Services by 6.3% during the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 223 shares in the last quarter. Advisor Partners LLC lifted its holdings in Republic Services by 10.2% during the fourth quarter. Advisor Partners LLC now owns 8,235 shares of the business services provider’s stock valued at $562,000 after purchasing an additional 760 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Republic Services by 18.7% during the fourth quarter. Raymond James Trust N.A. now owns 5,336 shares of the business services provider’s stock valued at $361,000 after purchasing an additional 842 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in Republic Services by 2.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 37,689 shares of the business services provider’s stock valued at $2,548,000 after purchasing an additional 852 shares in the last quarter. 60.31% of the stock is currently owned by institutional investors.

Republic Services, Inc. (NYSE:RSG) opened at $65.14 on Monday. Republic Services, Inc. has a 1-year low of $58.60 and a 1-year high of $69.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $21,575.25, a price-to-earnings ratio of 26.70, a PEG ratio of 2.07 and a beta of 0.53.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. research analysts expect that Republic Services, Inc. will post 3.08 EPS for the current fiscal year.

Republic Services declared that its board has authorized a share buyback plan on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, March 29th. Republic Services’s dividend payout ratio is presently 36.41%.

In related news, CAO Brian A. Goebel sold 2,000 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.88, for a total value of $135,760.00. Following the sale, the chief accounting officer now owns 6,696 shares in the company, valued at $454,524.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian A. Goebel sold 1,290 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total transaction of $88,287.60. Following the completion of the sale, the chief accounting officer now owns 6,696 shares in the company, valued at approximately $458,274.24. The disclosure for this sale can be found here. Insiders sold 104,642 shares of company stock worth $6,741,314 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Several equities analysts have recently commented on RSG shares. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets lowered their target price on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. Credit Suisse Group lowered their target price on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Finally, Bank of America boosted their target price on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.57.

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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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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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