CGOV Asset Management Grows Holdings in Republic Services, Inc. (RSG)
CGOV Asset Management raised its stake in Republic Services, Inc. (NYSE:RSG) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the business services provider’s stock after buying an additional 2,000 shares during the period. CGOV Asset Management’s holdings in Republic Services were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Patten Group Inc. boosted its position in Republic Services by 279.6% in the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock valued at $327,000 after buying an additional 13,839 shares during the period. Advisory Services Network LLC boosted its position in Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after buying an additional 223 shares during the period. Royal Bank of Canada boosted its position in Republic Services by 11.0% in the 2nd quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock valued at $78,399,000 after buying an additional 121,632 shares during the period. Vanguard Group Inc. boosted its position in Republic Services by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after buying an additional 418,797 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Republic Services by 9.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock valued at $1,230,000 after buying an additional 1,544 shares during the period. 59.90% of the stock is owned by institutional investors.
Shares of Republic Services, Inc. (NYSE:RSG) traded down $0.45 on Thursday, hitting $67.53. 769,200 shares of the stock traded hands, compared to its average volume of 1,443,300. Republic Services, Inc. has a 52-week low of $56.52 and a 52-week high of $69.12. The stock has a market cap of $22,700.00, a PE ratio of 28.61, a PEG ratio of 3.12 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.345 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.04%. Republic Services’s payout ratio is presently 58.47%.
Republic Services declared that its board has approved a stock repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts have issued reports on RSG shares. BMO Capital Markets reissued a “buy” rating and issued a $72.00 price objective on shares of Republic Services in a research report on Friday, October 13th. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Stifel Nicolaus cut shares of Republic Services from a “buy” rating to a “hold” rating and lowered their price target for the stock from $76.00 to $70.00 in a research report on Wednesday, October 4th. Credit Suisse Group lowered their price target on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. Finally, Bank of America lowered their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $68.14.
In related news, insider Donald W. Slager sold 32,421 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total transaction of $2,074,944.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian A. Goebel sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $67.88, for a total transaction of $135,760.00. Following the transaction, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at approximately $454,524.48. The disclosure for this sale can be found here. Insiders sold a total of 132,553 shares of company stock valued at $8,509,797 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.
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About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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