EULAV Asset Management Sells 18,000 Shares of Republic Services, Inc. $RSG

Key Points

• EULAV Asset Management cut its stake in Republic Services by 5.6% in the fourth quarter, selling 18,000 shares and ending with 305,603 shares valued at about $64.8 million.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion estimated.
• The company announced a quarterly dividend of $0.625 per share payable July 15, while analysts currently have a consensus rating of Hold with an average price target of $245.15.

EULAV Asset Management lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 305,603 shares of the business services provider's stock after selling 18,000 shares during the period. Republic Services accounts for 1.7% of EULAV Asset Management's investment portfolio, making the stock its 16th biggest holding. EULAV Asset Management owned approximately 0.10% of Republic Services worth $64,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after acquiring an additional 8,547 shares during the period. Federated Hermes Inc. grew its stake in shares of Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock worth $4,329,000 after acquiring an additional 3,303 shares during the period. NewEdge Advisors LLC grew its stake in shares of Republic Services by 3.6% during the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock worth $7,322,000 after acquiring an additional 1,044 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider's stock worth $23,336,000 after acquiring an additional 688 shares during the period. Finally, Ieq Capital LLC grew its stake in shares of Republic Services by 68.4% during the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock worth $2,871,000 after acquiring an additional 4,729 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Up 1.3%

Shares of NYSE RSG opened at $210.59 on Friday. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $255.47. The business has a 50-day simple moving average of $209.81 and a two-hundred day simple moving average of $214.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market cap of $64.79 billion, a P/E ratio of 30.21, a P/E/G ratio of 3.42 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. Research analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's payout ratio is currently 35.87%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RSG. Robert W. Baird cut their price target on Republic Services from $242.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Morgan Stanley lowered their target price on shares of Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 18th. Argus downgraded Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. Weiss Ratings downgraded Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada raised their target price on Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $245.15.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of Republic Services stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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