UBS Asset Management Americas Inc. boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,181,102 shares of the business services provider’s stock after acquiring an additional 33,116 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.37% of Republic Services worth $113,740,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of Republic Services by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,752,782 shares of the business services provider’s stock worth $457,693,000 after purchasing an additional 583,293 shares during the last quarter. Nordea Investment Management AB grew its position in Republic Services by 32.1% in the fourth quarter. Nordea Investment Management AB now owns 2,036,149 shares of the business services provider’s stock worth $196,081,000 after buying an additional 494,819 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Republic Services by 46.3% in the fourth quarter. Lazard Asset Management LLC now owns 1,001,605 shares of the business services provider’s stock valued at $96,454,000 after buying an additional 317,039 shares in the last quarter. KAMES CAPITAL plc lifted its position in shares of Republic Services by 66.1% during the 4th quarter. KAMES CAPITAL plc now owns 758,613 shares of the business services provider’s stock valued at $73,047,000 after acquiring an additional 301,782 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Republic Services by 21.1% in the 4th quarter. Morgan Stanley now owns 1,256,891 shares of the business services provider’s stock worth $121,038,000 after acquiring an additional 218,726 shares during the last quarter. 56.78% of the stock is owned by institutional investors.
A number of equities analysts recently commented on RSG shares. Robert W. Baird lowered shares of Republic Services from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $103.00 to $96.00 in a research note on Tuesday, February 16th. BMO Capital Markets lowered their price target on Republic Services from $107.00 to $102.00 and set an “outperform” rating on the stock in a report on Tuesday, March 2nd. Morgan Stanley increased their price objective on Republic Services from $99.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, March 1st. The Goldman Sachs Group initiated coverage on Republic Services in a research note on Wednesday. They set a “buy” rating and a $117.00 target price on the stock. Finally, Bank of America lowered shares of Republic Services from a “buy” rating to a “neutral” rating in a research report on Monday, January 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $99.86.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Sunday, February 21st. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Republic Services had a return on equity of 13.59% and a net margin of 10.05%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 3.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 1st will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $1.70 annualized dividend and a yield of 1.66%. Republic Services’s dividend payout ratio (DPR) is presently 50.90%.
In other news, major shareholder Cascade Investment, L.L.C. bought 10,055 shares of the stock in a transaction that occurred on Wednesday, March 31st. The shares were acquired at an average cost of $99.44 per share, for a total transaction of $999,869.20. Following the purchase, the insider now owns 108,812,574 shares of the company’s stock, valued at approximately $10,820,322,358.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.