Republic Services, Inc. (RSG) Stake Lowered by Macquarie Group Ltd.
Macquarie Group Ltd. reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,500 shares of the business services provider’s stock after selling 400 shares during the period. Macquarie Group Ltd.’s holdings in Republic Services were worth $324,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FTB Advisors Inc. purchased a new position in Republic Services in the fourth quarter worth $25,000. Oregon Public Employees Retirement Fund grew its position in Republic Services by 13,200.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock worth $46,000 after acquiring an additional 3,294,212 shares in the last quarter. Claybrook Capital LLC purchased a new position in Republic Services in the fourth quarter worth $46,000. Capital Investment Advisory Services LLC purchased a new position in Republic Services in the fourth quarter worth $67,000. Finally, Lavaca Capital LLC purchased a new position in Republic Services in the fourth quarter worth $76,000. Hedge funds and other institutional investors own 60.76% of the company’s stock.
Shares of NYSE:RSG opened at $79.08 on Tuesday. Republic Services, Inc. has a 52-week low of $64.13 and a 52-week high of $81.20. The firm has a market capitalization of $25.41 billion, a P/E ratio of 25.59, a P/E/G ratio of 2.69 and a beta of 0.58. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.375 per share. The ex-dividend date was Friday, March 29th. This represents a $1.50 annualized dividend and a yield of 1.90%. Republic Services’s payout ratio is 48.54%.
In other Republic Services news, Director Tomago Collins sold 4,102 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $80.59, for a total transaction of $330,580.18. Following the completion of the sale, the director now directly owns 14,821 shares in the company, valued at $1,194,424.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Brian A. Goebel sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $74.25, for a total transaction of $148,500.00. Following the sale, the chief accounting officer now owns 8,186 shares of the company’s stock, valued at $607,810.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,700 shares of company stock valued at $1,729,597. Company insiders own 0.30% of the company’s stock.
RSG has been the subject of several research reports. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, December 20th. Stifel Nicolaus lowered shares of Republic Services from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Thursday, April 11th. UBS Group upped their target price on shares of Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, KeyCorp initiated coverage on shares of Republic Services in a research report on Monday, February 4th. They issued a “sector weight” rating and a $77.73 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.10.
About Republic Services
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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