Sawgrass Asset Management LLC lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 31.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,214 shares of the business services provider's stock after selling 10,843 shares during the quarter. Sawgrass Asset Management LLC's holdings in Republic Services were worth $5,622,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Republic Services in the fourth quarter worth $553,039,000. GAMMA Investing LLC grew its stake in shares of Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after purchasing an additional 2,220,487 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Republic Services during the 4th quarter valued at about $184,827,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares during the period. Finally, Alyeska Investment Group L.P. grew its position in Republic Services by 170.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock valued at $117,559,000 after buying an additional 368,395 shares during the period. Institutional investors own 57.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on RSG shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Morgan Stanley raised their target price on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Melius started coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. Citigroup raised their price objective on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $252.68.
Get Our Latest Research Report on RSG
Republic Services Price Performance
Shares of NYSE RSG traded up $1.15 during midday trading on Thursday, reaching $245.03. 1,712,055 shares of the stock traded hands, compared to its average volume of 1,150,596. The company's 50 day moving average is $248.88 and its 200 day moving average is $231.94. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. The stock has a market capitalization of $76.57 billion, a PE ratio of 36.96, a P/E/G ratio of 3.74 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66.
Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. Republic Services's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 earnings per share. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.
Republic Services Profile
(
Free Report)
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.
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