Principal Financial Group Inc. grew its holdings in shares of Republic Services (NYSE:RSG) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,930 shares of the business services provider’s stock after acquiring an additional 5,418 shares during the period. Principal Financial Group Inc. owned about 0.11% of Republic Services worth $23,243,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in RSG. Ceredex Value Advisors LLC acquired a new stake in shares of Republic Services during the first quarter valued at about $91,949,000. OppenheimerFunds Inc. grew its stake in shares of Republic Services by 86.2% during the fourth quarter. OppenheimerFunds Inc. now owns 2,335,645 shares of the business services provider’s stock valued at $157,913,000 after acquiring an additional 1,081,097 shares in the last quarter. Eaton Vance Management grew its stake in shares of Republic Services by 5,223.4% during the first quarter. Eaton Vance Management now owns 752,036 shares of the business services provider’s stock valued at $49,807,000 after acquiring an additional 737,909 shares in the last quarter. BlackRock Inc. grew its stake in shares of Republic Services by 2.1% during the first quarter. BlackRock Inc. now owns 20,456,218 shares of the business services provider’s stock valued at $1,354,817,000 after acquiring an additional 425,547 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Republic Services by 5.6% during the first quarter. JPMorgan Chase & Co. now owns 6,894,618 shares of the business services provider’s stock valued at $456,630,000 after acquiring an additional 367,769 shares in the last quarter. Institutional investors own 60.08% of the company’s stock.
Shares of Republic Services opened at $69.16 on Wednesday, MarketBeat Ratings reports. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.95. Republic Services has a one year low of $60.26 and a one year high of $69.97. The stock has a market cap of $22.70 billion, a PE ratio of 26.32, a P/E/G ratio of 2.03 and a beta of 0.55.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. Republic Services had a net margin of 13.18% and a return on equity of 11.29%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. analysts anticipate that Republic Services will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be issued a $0.345 dividend. The ex-dividend date is Friday, June 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.00%. Republic Services’s dividend payout ratio is currently 56.79%.
In other Republic Services news, EVP Jeffrey A. Hughes sold 16,200 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $68.00, for a total value of $1,101,600.00. Following the transaction, the executive vice president now owns 16,200 shares of the company’s stock, valued at $1,101,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Republic Services from a “hold” rating to a “sell” rating in a research note on Monday, April 16th. Argus raised shares of Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, May 10th. UBS Group started coverage on shares of Republic Services in a research report on Wednesday, March 14th. They set a “buy” rating and a $78.00 price target on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a research report on Thursday, May 3rd. Finally, Raymond James cut shares of Republic Services from a “strong-buy” rating to a “market perform” rating and set a $72.00 price target on the stock. in a research report on Wednesday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Republic Services currently has an average rating of “Hold” and an average price target of $72.14.
Republic Services 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.
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