National Pension Service boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 258,365 shares of the business services provider’s stock after acquiring an additional 18,459 shares during the quarter. National Pension Service’s holdings in Republic Services were worth $17,468,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in RSG. Evercore Wealth Management LLC increased its position in Republic Services by 48.6% during the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after buying an additional 521 shares during the last quarter. Sun Life Financial INC increased its position in Republic Services by 20,900.0% during the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after buying an additional 1,672 shares during the last quarter. Cetera Investment Advisers acquired a new position in Republic Services during the second quarter worth approximately $211,000. First Allied Advisory Services Inc. acquired a new position in Republic Services during the second quarter worth approximately $224,000. Finally, Advisory Services Network LLC increased its position in Republic Services by 6.3% during the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after buying an additional 223 shares during the last quarter. 59.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Republic Services, Inc. (RSG) opened at $68.20 on Monday. Republic Services, Inc. has a 1-year low of $56.83 and a 1-year high of $69.12. The stock has a market capitalization of $22,794.14, a P/E ratio of 28.90, a PEG ratio of 3.11 and a beta of 0.60. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, December 29th. Republic Services’s dividend payout ratio is presently 58.47%.
Republic Services announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of brokerages have weighed in on RSG. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America lowered their price target on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. Credit Suisse Group lowered their price target on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. Finally, BMO Capital Markets lowered their price target on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Republic Services has a consensus rating of “Hold” and a consensus price target of $68.14.
In other news, CAO Brian A. Goebel sold 1,290 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total transaction of $88,287.60. Following the completion of the sale, the chief accounting officer now owns 6,696 shares in the company, valued at $458,274.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Donald W. Slager sold 98,132 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total value of $6,299,093.08. Following the sale, the chief executive officer now owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,843 shares of company stock valued at $8,733,225. Corporate insiders own 0.40% of the company’s stock.
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Republic Services Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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