Nippon Life Global Investors Americas Inc. reduced its stake in Republic Services, Inc. (NYSE:RSG) by 21.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,280 shares of the business services provider’s stock after selling 17,320 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Republic Services were worth $4,210,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Republic Services by 0.4% during the fourth quarter. BlackRock Inc. now owns 20,030,671 shares of the business services provider’s stock worth $1,354,276,000 after buying an additional 84,721 shares during the last quarter. American Century Companies Inc. boosted its holdings in Republic Services by 5.4% in the 4th quarter. American Century Companies Inc. now owns 7,882,739 shares of the business services provider’s stock valued at $532,952,000 after purchasing an additional 405,985 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Republic Services by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock valued at $453,398,000 after purchasing an additional 23,456 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Republic Services by 4.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,426,154 shares of the business services provider’s stock valued at $366,863,000 after purchasing an additional 224,249 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Republic Services by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock valued at $254,177,000 after purchasing an additional 102,801 shares in the last quarter. Institutional investors and hedge funds own 61.11% of the company’s stock.
In related news, Director Ramon A. Rodriguez sold 8,118 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $66.62, for a total transaction of $540,821.16. Following the completion of the sale, the director now directly owns 4,118 shares in the company, valued at $274,341.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian A. Goebel sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $67.57, for a total transaction of $135,140.00. Following the completion of the sale, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at approximately $452,448.72. The disclosure for this sale can be found here. Insiders sold 23,128 shares of company stock valued at $1,553,897 over the last quarter. Insiders own 0.40% of the company’s stock.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. Republic Services’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. equities analysts anticipate that Republic Services, Inc. will post 3.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, March 29th. Republic Services’s dividend payout ratio (DPR) is presently 36.41%.
A number of research firms have recently issued reports on RSG. UBS Group assumed coverage on shares of Republic Services in a research report on Wednesday. They set a “buy” rating for the company. Credit Suisse Group cut their price objective on Republic Services from $67.00 to $64.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. BMO Capital Markets cut their price target on Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price target for the company in a report on Wednesday, February 7th. Finally, Bank of America boosted their price objective on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Republic Services presently has a consensus rating of “Buy” and a consensus target price 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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