General American Investors Co. Inc. Has $73.51 Million Position in Republic Services, Inc. $RSG

Key Points

• General American Investors trimmed its Republic Services stake by 5.6% in Q1, but still held 335,625 shares worth about $73.5 million, making RSG its fourth-largest holding.
• Republic Services reported better-than-expected Q1 earnings of $1.70 per share on revenue of $4.11 billion, and analysts now expect 7.27 EPS for the full year.
• The company also announced a quarterly dividend of $0.625 per share payable July 15, while analysts maintain a Moderate Buy consensus with an average price target of $243.89.

General American Investors Co. Inc. lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 335,625 shares of the business services provider's stock after selling 20,000 shares during the quarter. Republic Services makes up approximately 4.8% of General American Investors Co. Inc.'s holdings, making the stock its 4th biggest holding. General American Investors Co. Inc. owned about 0.11% of Republic Services worth $73,509,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RSG. State Street Corp grew its stake in shares of Republic Services by 1.7% during the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider's stock valued at $2,054,820,000 after purchasing an additional 166,474 shares during the last quarter. Capital World Investors lifted its holdings in Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock worth $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley lifted its holdings in Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock worth $1,133,509,000 after buying an additional 1,490,719 shares in the last quarter. Wellington Management Group LLP boosted its position in Republic Services by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock valued at $1,074,513,000 after buying an additional 807,525 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Republic Services in the 4th quarter valued at $617,165,000. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 0.1%

Republic Services stock traded up $0.32 during midday trading on Friday, hitting $219.00. 773,427 shares of the stock were exchanged, compared to its average volume of 1,459,172. The stock has a market capitalization of $67.38 billion, a PE ratio of 31.42, a P/E/G ratio of 3.61 and a beta of 0.40. The company has a fifty day simple moving average of $209.06 and a two-hundred day simple moving average of $214.40. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. Equities research analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's payout ratio is currently 35.87%.

Insider Transactions at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 987,150 shares of company stock valued at $202,366,682. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

RSG has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Argus lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $243.89.

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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