Cipher Capital LP acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,231 shares of the business services provider’s stock, valued at approximately $810,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. FTB Advisors Inc. acquired a new position in Republic Services in the fourth quarter valued at $25,000. Oregon Public Employees Retirement Fund boosted its stake in Republic Services by 13,200.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 3,294,212 shares in the last quarter. Claybrook Capital LLC acquired a new position in Republic Services in the fourth quarter valued at $46,000. Capital Investment Advisory Services LLC acquired a new position in Republic Services in the fourth quarter valued at $67,000. Finally, Lavaca Capital LLC acquired a new position in Republic Services in the fourth quarter valued at $76,000. Institutional investors own 60.76% of the company’s stock.
In other Republic Services news, Director Tomago Collins sold 4,102 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $80.59, for a total value of $330,580.18. Following the completion of the transaction, the director now directly owns 14,821 shares of the company’s stock, valued at $1,194,424.39. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian A. Goebel sold 2,000 shares of the stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $74.25, for a total transaction of $148,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,186 shares of the company’s stock, valued at $607,810.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,700 shares of company stock valued at $1,729,597. 0.30% of the stock is currently owned by corporate insiders.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Republic Services had a net margin of 10.33% and a return on equity of 12.84%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, equities research analysts expect that Republic Services, Inc. will post 3.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $1.50 dividend on an annualized basis and a yield of 1.90%. Republic Services’s dividend payout ratio (DPR) is presently 48.54%.
RSG has been the subject of several research analyst reports. Zacks Investment Research restated a “hold” rating and issued a $80.00 price objective on shares of Republic Services in a research note on Monday, December 31st. UBS Group increased their target price on shares of Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. KeyCorp assumed coverage on shares of Republic Services in a research note on Monday, February 4th. They set a “sector weight” rating and a $77.73 target price for the company. Finally, Stifel Nicolaus downgraded shares of Republic Services from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $79.10.
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Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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