Geode Capital Management LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,565,137 shares of the business services provider's stock after purchasing an additional 57,616 shares during the period. Geode Capital Management LLC owned approximately 1.46% of Republic Services worth $918,045,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Republic Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock valued at $3,740,083,000 after acquiring an additional 144,719 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Republic Services by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock valued at $1,259,855,000 after purchasing an additional 218,729 shares during the period. Wellington Management Group LLP grew its position in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock valued at $1,205,883,000 after buying an additional 1,131,850 shares during the period. Nordea Investment Management AB raised its position in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after acquiring an additional 509,116 shares during the period. Finally, Norges Bank purchased a new stake in shares of Republic Services during the 4th quarter worth about $553,039,000. Institutional investors and hedge funds own 57.73% of the company's stock.
Wall Street Analysts Forecast Growth
RSG has been the subject of a number of analyst reports. UBS Group upped their price target on Republic Services from $212.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. CIBC raised Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price for the company in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and lifted their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Stifel Nicolaus increased their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $236.88.
Read Our Latest Research Report on RSG
Insiders Place Their Bets
In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company's stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.
Republic Services Trading Down 2.2 %
Shares of NYSE RSG traded down $5.12 during trading on Monday, hitting $230.30. 866,003 shares of the company were exchanged, compared to its average volume of 1,100,657. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The firm has a market capitalization of $71.92 billion, a PE ratio of 35.33, a P/E/G ratio of 3.64 and a beta of 0.62. The company has a fifty day moving average price of $230.70 and a 200-day moving average price of $215.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.
Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the prior year, the company posted $1.41 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.
Republic Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio is presently 35.75%.
About Republic Services
(
Free Report)
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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