Citigroup Inc. raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,203 shares of the business services provider’s stock after buying an additional 16,143 shares during the period. Citigroup Inc. owned 0.09% of Republic Services worth $30,605,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of RSG. Marshall Wace LLP acquired a new stake in shares of Republic Services in the first quarter valued at about $130,000. FMR LLC lifted its stake in Republic Services by 104.6% during the first quarter. FMR LLC now owns 143,930 shares of the business services provider’s stock worth $11,570,000 after purchasing an additional 73,568 shares during the period. Commonwealth Equity Services LLC lifted its stake in Republic Services by 5.3% during the first quarter. Commonwealth Equity Services LLC now owns 43,109 shares of the business services provider’s stock worth $4,282,000 after purchasing an additional 2,189 shares during the period. Natixis Advisors L.P. lifted its stake in Republic Services by 25.6% during the first quarter. Natixis Advisors L.P. now owns 26,845 shares of the business services provider’s stock worth $2,667,000 after purchasing an additional 5,465 shares during the period. Finally, Commerce Bank lifted its stake in Republic Services by 6.0% during the first quarter. Commerce Bank now owns 29,636 shares of the business services provider’s stock worth $2,945,000 after purchasing an additional 1,666 shares during the period. 57.60% of the stock is currently owned by institutional investors.
Shares of NYSE:RSG opened at $124.05 on Friday. The company has a market cap of $39.49 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.88 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $119.82 and a 200 day simple moving average of $110.09. Republic Services, Inc. has a one year low of $86.18 and a one year high of $126.25.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.48%. This is a positive change from Republic Services’s previous quarterly dividend of $0.43. Republic Services’s payout ratio is 47.75%.
In related news, CFO Brian M. Delghiaccio sold 2,074 shares of the business’s stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $114.00, for a total transaction of $236,436.00. Following the completion of the transaction, the chief financial officer now owns 3,379 shares of the company’s stock, valued at $385,206. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.
RSG has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Republic Services from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, August 24th. Morgan Stanley lifted their target price on shares of Republic Services from $126.00 to $134.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Royal Bank of Canada lifted their target price on shares of Republic Services from $111.00 to $118.00 and gave the company a “sector perform” rating in a research note on Friday, July 30th. They noted that the move was a valuation call. Raymond James restated an “outperform” rating and issued a $116.14 price objective (down previously from $117.00) on shares of Republic Services in a research report on Monday, July 26th. Finally, BMO Capital Markets boosted their price objective on shares of Republic Services from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven 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 a consensus rating of “Buy” and an average target price of $113.93.
Republic Services Profile
Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.
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