Legal & General Group Plc Sells 44,789 Shares of Republic Services, Inc. $RSG

Key Points

• Legal & General Group Plc trimmed its Republic Services stake by 3.5% in the fourth quarter, selling 44,789 shares and ending with 1,243,137 shares worth about $263.5 million.
• Republic Services reported better-than-expected Q1 earnings, posting $1.70 per share versus the $1.64 consensus and revenue of $4.11 billion, while revenue rose 2.6% year over year.
• The company also announced a quarterly dividend of $0.625 per share payable July 15, and analysts currently have a consensus rating of Hold with a price target of $245.15.

Legal & General Group Plc lessened its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,243,137 shares of the business services provider's stock after selling 44,789 shares during the quarter. Legal & General Group Plc owned about 0.40% of Republic Services worth $263,458,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RSG. Laurel Wealth Advisors LLC bought a new position in shares of Republic Services during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new position in shares of Republic Services during the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Republic Services by 121.8% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in Republic Services during the 3rd quarter worth approximately $29,000. Finally, Sound Income Strategies LLC purchased a new stake in Republic Services during the 4th quarter worth approximately $32,000. Institutional investors own 57.73% of the company's stock.

Analyst Ratings Changes

RSG has been the topic of several research analyst reports. Argus downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Barclays boosted their target price on shares of Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Wolfe Research initiated coverage on shares of Republic Services in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. BMO Capital Markets dropped their target price on shares of Republic Services from $251.00 to $248.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 18th. Finally, Citigroup dropped their target price on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $245.15.

Republic Services Trading Down 1.0%

NYSE RSG opened at $206.84 on Wednesday. The company has a fifty day moving average of $212.33 and a 200 day moving average of $214.90. The company has a market capitalization of $63.64 billion, a PE ratio of 29.68, a P/E/G ratio of 3.44 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly 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 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 for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. Research analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is currently 36.15%.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business's stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares of the company's stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders bought 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by company insiders.

Republic Services Company 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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