Republic Services, Inc. $RSG Shares Sold by Legal & General Group Plc

by · The Cerbat Gem

Legal & General Group Plc lessened its position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 3.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,243,137 shares of the business services provider’s stock after selling 44,789 shares during the period. Legal & General Group Plc’s holdings in Republic Services were worth $263,458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Republic Services by 0.3% during the third quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider’s stock valued at $4,384,757,000 after buying an additional 49,365 shares during the period. JPMorgan Chase & Co. grew its position in Republic Services by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider’s stock valued at $711,003,000 after buying an additional 409,142 shares during the period. Bank of America Corp DE grew its position in Republic Services by 6.0% during the third quarter. Bank of America Corp DE now owns 2,031,005 shares of the business services provider’s stock valued at $466,075,000 after buying an additional 114,291 shares during the period. Ameriprise Financial Inc. grew its position in Republic Services by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 1,458,550 shares of the business services provider’s stock valued at $359,695,000 after buying an additional 76,593 shares during the period. Finally, Chilton Investment Co. Inc. grew its position in Republic Services by 4.2% during the third quarter. Chilton Investment Co. Inc. now owns 1,353,587 shares of the business services provider’s stock valued at $310,621,000 after buying an additional 54,452 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 987,150 shares of company stock valued at $202,366,682 over the last quarter. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Wolfe Research initiated coverage on shares of Republic Services in a report on Friday, March 13th. They set a “peer perform” rating on the stock. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. BMO Capital Markets decreased their price objective on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Citigroup decreased their price objective on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $245.15.

Check Out Our Latest Research Report on RSG

Republic Services Stock Performance

NYSE:RSG opened at $206.84 on Wednesday. The company’s 50-day moving average price is $212.33 and its 200-day moving average price is $214.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market cap of $63.64 billion, a P/E ratio of 29.68, a P/E/G ratio of 3.44 and a beta of 0.43. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75.

Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.58 earnings per share. On average, sell-side analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

About Republic Services

(Free Report)

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.

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