UBS Asset Management Americas Inc. lifted its stake in Republic Services, Inc. (NYSE:RSG) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,183,052 shares of the business services provider’s stock after acquiring an additional 113,971 shares during the period. UBS Asset Management Americas Inc.’s holdings in Republic Services were worth $79,986,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in shares of Republic Services in the fourth quarter worth $121,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Republic Services by 507.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock worth $123,000 after acquiring an additional 1,523 shares during the period. Welch & Forbes LLC bought a new position in shares of Republic Services in the fourth quarter worth $201,000. Schroder Investment Management Group boosted its holdings in shares of Republic Services by 41.4% in the fourth quarter. Schroder Investment Management Group now owns 3,104 shares of the business services provider’s stock worth $210,000 after acquiring an additional 909 shares during the period. Finally, Blue Sky Asset Management LLC bought a new position in shares of Republic Services in the fourth quarter worth $256,000. 60.31% of the stock is owned by hedge funds and other institutional investors.
In other Republic Services news, CEO Donald W. Slager sold 98,132 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the sale, the chief executive officer now owns 322,541 shares in the company, valued at $20,703,906.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian A. Goebel sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $67.57, for a total value of $135,140.00. Following the sale, the chief accounting officer now owns 6,696 shares in the company, valued at approximately $452,448.72. The disclosure for this sale can be found here. Insiders have sold 104,642 shares of company stock worth $6,741,314 in the last 90 days. Company insiders own 0.40% of the company’s stock.
Shares of Republic Services, Inc. (NYSE RSG) opened at $65.44 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55. Republic Services, Inc. has a 12-month low of $60.26 and a 12-month high of $69.40. The stock has a market capitalization of $21,509.01, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.06 and a beta of 0.54.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. analysts expect that Republic Services, Inc. will post 3.08 EPS for the current fiscal year.
Republic Services announced 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 reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.345 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.11%. Republic Services’s payout ratio is 36.41%.
RSG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. BMO Capital Markets lowered their price objective on Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Credit Suisse Group lowered their price objective on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Finally, Bank of America increased their price objective on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Republic Services presently has a consensus rating of “Hold” and an average target price of $68.57.
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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