Rehmann Capital Advisory Group trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819 shares of the business services provider’s stock after selling 215 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Republic Services were worth $146,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc grew its position in Republic Services by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 18,743,008 shares of the business services provider’s stock worth $1,361,867,000 after purchasing an additional 115,598 shares during the period. Advisors Asset Management Inc. grew its position in Republic Services by 64.6% during the 4th quarter. Advisors Asset Management Inc. now owns 45,273 shares of the business services provider’s stock worth $3,264,000 after purchasing an additional 17,773 shares during the period. Mackenzie Financial Corp grew its position in Republic Services by 404.7% during the 4th quarter. Mackenzie Financial Corp now owns 140,315 shares of the business services provider’s stock worth $10,115,000 after purchasing an additional 112,513 shares during the period. Jennison Associates LLC grew its position in Republic Services by 478.8% during the 4th quarter. Jennison Associates LLC now owns 303,955 shares of the business services provider’s stock worth $21,912,000 after purchasing an additional 251,440 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its position in Republic Services by 5.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,491 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 949 shares during the period. Institutional investors and hedge funds own 58.80% of the company’s stock.
Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Shopify from C$230.00 to C$265.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. UBS Group restated a “hold” rating on shares of Deutsche Bank in a research report on Thursday, April 4th. Bank of America set a $275.00 target price on SVB Financial Group and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus restated a “hold” rating on shares of NEXT in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Republic Services currently has an average rating of “Hold” and an average price target of $81.97.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Republic Services had a net margin of 10.25% and a return on equity of 12.72%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company posted $0.74 EPS. Republic Services’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Republic Services, Inc. will post 3.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, June 28th. Republic Services’s dividend payout ratio (DPR) is 48.54%.
In other Republic Services news, EVP Brian A. Bales sold 22,831 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $82.67, for a total value of $1,887,438.77. Following the transaction, the executive vice president now directly owns 23,804 shares of the company’s stock, valued at approximately $1,967,876.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ark Jon Vander sold 19,278 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 131,875 shares of company stock worth $10,891,028 over the last three months. Corporate insiders own 0.30% of the company’s stock.
Republic Services 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.
Further Reading: How is inflation measured?
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.