Bessemer Group Inc. Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Bessemer Group Inc. lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 62.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,888 shares of the business services provider's stock after selling 16,206 shares during the quarter. Bessemer Group Inc.'s holdings in Republic Services were worth $2,395,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC increased its position in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Republic Services in the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in Republic Services in the 4th quarter worth approximately $45,000. Proathlete Wealth Management LLC purchased a new stake in Republic Services in the 1st quarter worth approximately $76,000. Finally, Avalon Trust Co purchased a new stake in Republic Services in the 4th quarter worth approximately $80,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of NYSE RSG traded down $0.45 during midday trading on Friday, reaching $244.27. 1,895,925 shares of the stock traded hands, compared to its average volume of 1,155,350. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $76.34 billion, a PE ratio of 36.84, a P/E/G ratio of 3.75 and a beta of 0.63. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. The company's 50 day moving average is $248.90 and its 200 day moving average is $232.16.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. On average, equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RSG. Melius began coverage on shares of Republic Services in a report on Monday, June 9th. They issued a "hold" rating for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Raymond James Financial reissued an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. Finally, Citigroup increased their target price on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and a consensus target price of $252.68.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.