Amundi Pioneer Asset Management Inc. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 609,170 shares of the business services provider’s stock after acquiring an additional 88,445 shares during the period. Amundi Pioneer Asset Management Inc. owned approximately 0.19% of Republic Services worth $48,964,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in RSG. FMR LLC lifted its holdings in shares of Republic Services by 104.6% during the 1st quarter. FMR LLC now owns 143,930 shares of the business services provider’s stock valued at $11,570,000 after buying an additional 73,568 shares during the last quarter. Horizon Investments LLC raised its stake in shares of Republic Services by 7.4% in the 1st quarter. Horizon Investments LLC now owns 41,983 shares of the business services provider’s stock valued at $3,375,000 after acquiring an additional 2,875 shares in the last quarter. Cerebellum GP LLC raised its stake in shares of Republic Services by 19.1% in the 1st quarter. Cerebellum GP LLC now owns 4,239 shares of the business services provider’s stock valued at $341,000 after acquiring an additional 680 shares in the last quarter. GYL Financial Synergies LLC bought a new position in shares of Republic Services in the 1st quarter valued at approximately $221,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Republic Services in the 1st quarter valued at approximately $520,000. 58.84% of the stock is currently owned by hedge funds and other institutional investors.
NYSE RSG traded down $0.93 during trading on Friday, hitting $87.11. The company’s stock had a trading volume of 1,118,238 shares, compared to its average volume of 860,880. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $86.68. The firm has a market cap of $28.31 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.87 and a beta of 0.50. Republic Services, Inc. has a 52 week low of $67.48 and a 52 week high of $88.36.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, June 28th. Republic Services’s payout ratio is presently 48.54%.
RSG has been the topic of a number of recent analyst reports. Bank of America set a $275.00 price objective on SVB Financial Group and gave the company a “buy” rating in a research note on Friday, April 26th. UBS Group reissued a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. Royal Bank of Canada raised their price objective on Shopify from C$230.00 to C$265.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Stifel Nicolaus reissued a “hold” rating on shares of NEXT in a research note on Monday, April 29th. Finally, Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $81.97.
In related news, EVP Brian A. Bales sold 10,300 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.64, for a total value of $851,192.00. Following the sale, the executive vice president now owns 23,804 shares of the company’s stock, valued at approximately $1,967,162.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles F. Serianni sold 9,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $82.30, for a total value of $781,850.00. Following the completion of the sale, the chief financial officer now directly owns 53,700 shares in the company, valued at approximately $4,419,510. The disclosure for this sale can be found here. Insiders have sold a total of 131,875 shares of company stock worth $10,891,028 in the last three months. 0.30% of the stock is owned by insiders.
About Republic Services
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.
See Also: Return on Equity (ROE)
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