Advisor Group Inc. Trims Stake in Republic Services, Inc. (NYSE:RSG)

Advisor Group Inc. cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 42.0% in the 1st quarter, HoldingsChannel reports. The fund owned 16,561 shares of the business services provider’s stock after selling 12,011 shares during the quarter. Advisor Group Inc.’s holdings in Republic Services were worth $1,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Oregon Public Employees Retirement Fund boosted its stake in shares of Republic Services by 13,200.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock worth $46,000 after acquiring an additional 3,294,212 shares in the last quarter. Norges Bank acquired a new stake in shares of Republic Services in the fourth quarter worth $216,948,000. BlackRock Inc. boosted its position in shares of Republic Services by 8.4% in the fourth quarter. BlackRock Inc. now owns 20,563,044 shares of the business services provider’s stock worth $1,482,389,000 after buying an additional 1,600,885 shares during the period. Pactiv General Employee Benefit Trust acquired a new stake in shares of Republic Services in the fourth quarter worth $60,271,000. Finally, California Public Employees Retirement System boosted its position in shares of Republic Services by 49.0% in the fourth quarter. California Public Employees Retirement System now owns 1,179,278 shares of the business services provider’s stock worth $85,014,000 after buying an additional 387,583 shares during the period. 58.95% of the stock is owned by institutional investors and hedge funds.

Shares of Republic Services stock opened at $86.16 on Wednesday. The firm has a market capitalization of $27.91 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.86. Republic Services, Inc. has a 12 month low of $67.48 and a 12 month high of $87.49.



Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 25th. The business services provider reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. Republic Services’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 3.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.74%. Republic Services’s dividend payout ratio is 48.54%.

In related news, President Ark Jon Vander sold 19,278 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $82.33, for a total transaction of $1,587,157.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tomago Collins sold 4,102 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $80.59, for a total value of $330,580.18. Following the sale, the director now owns 14,821 shares of the company’s stock, valued at $1,194,424.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,575 shares of company stock valued at $12,472,125. 0.30% of the stock is owned by corporate insiders.

RSG has been the subject of several recent analyst reports. Zacks Investment Research cut Republic Services from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. UBS Group raised their target price on Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Stifel Nicolaus cut Republic Services from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Thursday, April 11th. Royal Bank of Canada initiated coverage on Republic Services in a research report on Wednesday, May 1st. They issued a “sector perform” rating and a $87.00 target price for the company. Finally, Bank of America reaffirmed a “neutral” rating and issued a $85.00 target price (up previously from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Republic Services presently has an average rating of “Hold” and a consensus price target of $81.97.

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Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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