Sadoff Investment Management LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,424 shares of the business services provider’s stock after selling 1,600 shares during the quarter. Republic Services accounts for approximately 2.1% of Sadoff Investment Management LLC’s holdings, making the stock its 25th largest position. Sadoff Investment Management LLC owned 0.11% of Republic Services worth $25,450,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Republic Services by 5.4% in the 4th quarter. American Century Companies Inc. now owns 7,882,739 shares of the business services provider’s stock worth $532,952,000 after purchasing an additional 405,985 shares during the last quarter. PGGM Investments raised its stake in Republic Services by 116.3% during the 3rd quarter. PGGM Investments now owns 516,174 shares of the business services provider’s stock valued at $34,098,000 after acquiring an additional 277,585 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Republic Services by 14.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,586,935 shares of the business services provider’s stock valued at $104,833,000 after acquiring an additional 198,620 shares in the last quarter. Victory Capital Management Inc. raised its stake in Republic Services by 8.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,249,231 shares of the business services provider’s stock valued at $152,070,000 after acquiring an additional 174,621 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in Republic Services by 135.5% during the 3rd quarter. Shell Asset Management Co. now owns 240,600 shares of the business services provider’s stock valued at $9,388,000 after acquiring an additional 138,428 shares in the last quarter. Institutional investors own 59.31% of the company’s stock.
In other Republic Services news, CAO Brian A. Goebel sold 1,290 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total value of $88,287.60. Following the transaction, the chief accounting officer now owns 6,696 shares in the company, valued at $458,274.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald W. Slager sold 98,132 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total value of $6,299,093.08. Following the completion of the sale, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. Insiders sold 104,642 shares of company stock worth $6,741,314 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Several analysts have weighed in on RSG shares. Credit Suisse Group cut their target price on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Monday, January 22nd. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. BMO Capital Markets dropped their price objective on Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. Finally, Bank of America boosted their price objective on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Republic Services currently has a consensus rating of “Hold” and a consensus target price of $68.57.
Shares of Republic Services, Inc. (RSG) traded up $0.89 during mid-day trading on Wednesday, hitting $64.17. The stock had a trading volume of 972,842 shares, compared to its average volume of 1,488,864. Republic Services, Inc. has a twelve month low of $58.06 and a twelve month high of $69.40. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $20,740.59, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Republic Services’s revenue for the quarter was up 7.6% compared to the same quarter last year. analysts anticipate that Republic Services, Inc. will post 3.08 EPS for the current fiscal year.
Republic Services announced that its Board of Directors has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a $0.345 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.15%. Republic Services’s dividend payout ratio (DPR) is currently 36.41%.
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Republic Services 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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