Republic Services, Inc. (RSG) Position Trimmed by B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 55.7% during the 2nd quarter, Holdings Channel reports. The fund owned 7,026 shares of the business services provider’s stock after selling 8,831 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Republic Services were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Republic Services by 2.1% during the 1st quarter. BlackRock Inc. now owns 20,456,218 shares of the business services provider’s stock worth $1,354,817,000 after buying an additional 425,547 shares during the period. Bank of America Corp DE raised its holdings in Republic Services by 11.7% during the 2nd quarter. Bank of America Corp DE now owns 8,681,132 shares of the business services provider’s stock worth $593,441,000 after buying an additional 909,717 shares during the period. JPMorgan Chase & Co. raised its holdings in Republic Services by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,894,618 shares of the business services provider’s stock worth $456,630,000 after buying an additional 367,769 shares during the period. Victory Capital Management Inc. raised its holdings in Republic Services by 0.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,166,946 shares of the business services provider’s stock worth $148,132,000 after buying an additional 14,244 shares during the period. Finally, Morgan Stanley raised its holdings in Republic Services by 29.7% during the 2nd quarter. Morgan Stanley now owns 1,600,693 shares of the business services provider’s stock worth $109,424,000 after buying an additional 366,972 shares during the period. 61.42% of the stock is currently owned by institutional investors and hedge funds.

NYSE RSG opened at $74.93 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.69 and a current ratio of 0.69. Republic Services, Inc. has a 12-month low of $60.26 and a 12-month high of $75.63. The company has a market capitalization of $24.24 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.29 and a beta of 0.57.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. Republic Services had a net margin of 13.51% and a return on equity of 11.65%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. analysts predict that Republic Services, Inc. will post 3.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.375 dividend. The ex-dividend date is Friday, September 28th. This is an increase from Republic Services’s previous quarterly dividend of $0.35. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.00%. Republic Services’s dividend payout ratio (DPR) is 56.79%.

In other news, insider Donald W. Slager sold 225,734 shares of Republic Services stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $73.02, for a total value of $16,483,096.68. Following the sale, the insider now directly owns 378,023 shares in the company, valued at $27,603,239.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald W. Slager sold 91,334 shares of Republic Services stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $73.04, for a total transaction of $6,671,035.36. Following the completion of the sale, the chief executive officer now owns 378,023 shares in the company, valued at $27,610,799.92. The disclosure for this sale can be found here. Insiders sold 326,568 shares of company stock worth $23,819,132 over the last quarter. 0.30% of the stock is owned by corporate insiders.

RSG has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. BMO Capital Markets raised their target price on shares of Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a report on Thursday, August 16th. Bank of America raised their target price on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, August 17th. Finally, Stifel Nicolaus raised their target price on shares of Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Republic Services currently has an average rating of “Buy” and an average target price of $75.00.

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; supply of waste containers; and renting of compactors.

Further Reading: NASDAQ

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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