Geode Capital Management LLC Cuts Stock Holdings in Republic Services, Inc. $RSG

Geode Capital Management LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,772,641 shares of the business services provider’s stock after selling 70,791 shares during the period. Geode Capital Management LLC’s holdings in Republic Services were worth $1,011,695,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new position in Republic Services during the third quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new position in Republic Services in the fourth quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Republic Services in the third quarter valued at about $29,000. Finally, Sound Income Strategies LLC purchased a new position in Republic Services in the fourth quarter valued at about $32,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have acquired 987,150 shares of company stock valued at $202,366,682. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RSG shares. Wolfe Research started coverage on shares of Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Citigroup lowered their price target on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Morgan Stanley lowered their price target on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $245.15.

Republic Services Stock Down 1.7%

Shares of NYSE RSG opened at $200.32 on Friday. The firm has a market cap of $61.63 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 3.35 and a beta of 0.43. The firm’s 50 day moving average price is $211.11 and its 200 day moving average price is $214.80. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the business earned $1.58 EPS. Republic Services’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis 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%.

Republic Services Company Profile

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.