BlueCrest Capital Management Ltd lifted its stake in Republic Services, Inc. (NYSE:RSG) by 506.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,255 shares of the business services provider’s stock after buying an additional 27,775 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Republic Services were worth $2,248,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. Raymond James Financial Services Advisors Inc. raised its stake in Republic Services by 23.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 98,884 shares of the business services provider’s stock valued at $6,532,000 after purchasing an additional 18,915 shares during the period. Stevens Capital Management LP bought a new stake in Republic Services during the 3rd quarter valued at approximately $2,584,000. State of Wisconsin Investment Board raised its stake in Republic Services by 6.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 217,965 shares of the business services provider’s stock valued at $14,399,000 after purchasing an additional 12,276 shares during the period. Prudential Financial Inc. raised its stake in Republic Services by 1.3% during the 3rd quarter. Prudential Financial Inc. now owns 324,513 shares of the business services provider’s stock valued at $21,437,000 after purchasing an additional 4,090 shares during the period. Finally, Global X MANAGEMENT CO LLC raised its stake in Republic Services by 16.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 12,179 shares of the business services provider’s stock valued at $805,000 after purchasing an additional 1,724 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on RSG shares. UBS started coverage on Republic Services in a research note on Wednesday, March 14th. They set a “buy” rating and a $78.00 target price on the stock. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Monday, January 22nd. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $73.00 in a research note on Thursday, January 4th. Bank of America lifted their target price on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Credit Suisse Group decreased their target price on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $70.29.
NYSE RSG traded down $0.39 during trading on Monday, hitting $65.84. 1,763,822 shares of the stock traded hands, compared to its average volume of 1,819,062. The stock has a market capitalization of $21,936.27, a PE ratio of 27.09, a P/E/G ratio of 2.10 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55. Republic Services, Inc. has a 12-month low of $60.26 and a 12-month high of $69.40.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. analysts anticipate that Republic Services, Inc. will post 3.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, March 29th. Republic Services’s dividend payout ratio is presently 56.79%.
In other news, CAO Brian A. Goebel sold 2,000 shares of Republic Services stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $67.57, for a total value of $135,140.00. Following the completion of the transaction, the chief accounting officer now owns 6,696 shares in the company, valued at approximately $452,448.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Ark Jon Vander sold 9,236 shares of Republic Services stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $68.45, for a total value of $632,204.20. Following the completion of the transaction, the chief operating officer now owns 12,011 shares of the company’s stock, valued at approximately $822,152.95. The disclosure for this sale can be found here. Insiders have sold a total of 32,364 shares of company stock valued at $2,186,101 in the last 90 days. 0.40% of the stock is currently owned by company insiders.
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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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