Parnassus Investments LLC Has $66.27 Million Holdings in Republic Services, Inc. $RSG

Parnassus Investments LLC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 312,695 shares of the business services provider’s stock after selling 26,516 shares during the period. Parnassus Investments LLC owned about 0.10% of Republic Services worth $66,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Republic Services by 0.3% in 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 purchasing an additional 49,365 shares during the period. Capital World Investors increased its holdings in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. JPMorgan Chase & Co. increased its holdings in Republic Services by 15.2% in 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 purchasing an additional 409,142 shares during the period. Norges Bank acquired a new stake in Republic Services in the fourth quarter valued at $617,165,000. Finally, Bank of America Corp DE increased its holdings in Republic Services by 6.0% in 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 purchasing an additional 114,291 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares of the company’s stock, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Republic Services Stock Down 2.0%

Shares of NYSE:RSG opened at $208.30 on Friday. The business’s 50 day simple moving average is $209.05 and its two-hundred day simple moving average is $214.55. The firm has a market cap of $64.09 billion, a P/E ratio of 29.89, a PEG ratio of 3.50 and a beta of 0.41. 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, Inc. has a 52-week low of $196.41 and a 52-week high of $253.38.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. As a group, research analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wolfe Research assumed coverage on Republic Services in a report on Friday, March 13th. They set a “peer perform” rating for the company. Wells Fargo & Company increased their price target on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Barclays increased their price target on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. BMO Capital Markets decreased their price target on Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Finally, Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.26.

About Republic Services

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.