Goldman Sachs Group Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,501,335 shares of the business services provider’s stock after purchasing an additional 118,213 shares during the period. Goldman Sachs Group Inc.’s holdings in Republic Services were worth $209,361,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RSG. Allspring Global Investments Holdings LLC acquired a new position in Republic Services during the 4th quarter worth approximately $499,246,000. Alliancebernstein L.P. lifted its stake in Republic Services by 237.3% in the 3rd quarter. Alliancebernstein L.P. now owns 1,056,899 shares of the business services provider’s stock valued at $126,891,000 after buying an additional 743,575 shares in the last quarter. Marshall Wace LLP purchased a new stake in Republic Services in the 4th quarter valued at approximately $55,983,000. Allianz Asset Management GmbH lifted its stake in Republic Services by 197.2% in the 4th quarter. Allianz Asset Management GmbH now owns 547,248 shares of the business services provider’s stock valued at $76,313,000 after buying an additional 363,101 shares in the last quarter. Finally, CWM LLC purchased a new stake in Republic Services in the 4th quarter valued at approximately $37,993,000. Institutional investors own 92.80% of the company’s stock.
Republic Services stock traded up $3.17 during midday trading on Friday, reaching $130.89. The stock had a trading volume of 1,743,279 shares, compared to its average volume of 1,297,693. The firm’s fifty day simple moving average is $131.91 and its two-hundred day simple moving average is $131.15. Republic Services, Inc. has a twelve month low of $106.46 and a twelve month high of $145.98. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.71. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.77 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be paid a $0.46 dividend. The ex-dividend date is Thursday, June 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.41%. Republic Services’s payout ratio is currently 43.60%.
RSG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on Republic Services from $142.00 to $139.00 and set a “hold” rating on the stock in a research note on Monday, February 14th. Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research note on Friday. StockNews.com initiated coverage on Republic Services in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Morgan Stanley upped their price objective on Republic Services from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, March 8th. Finally, Raymond James increased their price target on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $136.75.
In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 88,588 shares of the stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average price of $116.00 per share, with a total value of $10,276,208.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 710,420 shares of company stock worth $83,099,992. 0.06% of the stock is currently owned by insiders.
About Republic Services (Get Rating)
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
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