25,760 Shares in Republic Services, Inc. (NYSE:RSG) Acquired by Everence Capital Management Inc.
Everence Capital Management Inc. acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 25,760 shares of the business services provider’s stock, valued at approximately $2,559,000.
Other large investors also recently modified their holdings of the company. Advisor Partners LLC grew its holdings in Republic Services by 0.9% during the third quarter. Advisor Partners LLC now owns 11,836 shares of the business services provider’s stock valued at $1,105,000 after purchasing an additional 102 shares during the period. PAX Financial Group LLC boosted its holdings in shares of Republic Services by 2.3% in the fourth quarter. PAX Financial Group LLC now owns 5,256 shares of the business services provider’s stock worth $506,000 after acquiring an additional 120 shares during the period. Alhambra Investment Partners LLC boosted its holdings in shares of Republic Services by 5.2% in the fourth quarter. Alhambra Investment Partners LLC now owns 2,710 shares of the business services provider’s stock worth $261,000 after acquiring an additional 135 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Republic Services by 4.2% in the fourth quarter. Cetera Advisors LLC now owns 3,875 shares of the business services provider’s stock worth $373,000 after acquiring an additional 157 shares during the period. Finally, Private Capital Group LLC boosted its holdings in shares of Republic Services by 6.0% in the fourth quarter. Private Capital Group LLC now owns 2,948 shares of the business services provider’s stock worth $285,000 after acquiring an additional 168 shares during the period. 56.78% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on RSG. BMO Capital Markets cut their price target on Republic Services from $107.00 to $102.00 and set an “outperform” rating for the company 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 report on Monday, March 1st. Robert W. Baird downgraded Republic Services from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $103.00 to $96.00 in a research report on Tuesday, February 16th. Zacks Investment Research downgraded Republic Services from a “hold” rating to a “sell” rating and set a $101.00 price objective on the stock. in a research report on Wednesday, January 13th. Finally, JPMorgan Chase & Co. upgraded Republic Services from a “neutral” rating to an “overweight” rating and set a $102.00 price objective on the stock in a research report on Monday, March 1st. 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 company has a consensus rating of “Buy” and a consensus price target of $99.86.
Republic Services (NYSE:RSG) last released its earnings results on Sunday, February 21st. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.18. Republic Services had a net margin of 10.05% and a return on equity of 13.59%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that Republic Services, Inc. will post 3.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be issued a $0.425 dividend. The ex-dividend date is Wednesday, March 31st. This represents a $1.70 dividend on an annualized basis and a yield of 1.66%. Republic Services’s payout ratio is currently 50.90%.
In other news, major shareholder Cascade Investment, L.L.C. acquired 10,055 shares of the firm’s stock in a transaction that occurred on Wednesday, March 31st. The stock was bought at an average cost of $99.44 per share, for a total transaction of $999,869.20. Following the acquisition, the insider now directly owns 108,812,574 shares in the company, valued at $10,820,322,358.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.
About Republic Services
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.
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