UBS Asset Management Americas Inc. increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.9% during the 4th quarter, Holdings Channel.com reports. The firm 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.’s holdings in Republic Services were worth $113,740,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Capstone Triton Financial Group LLC bought a new position in Republic Services in the 4th quarter valued at $407,000. FIL Ltd boosted its holdings in Republic Services by 16.3% in the fourth quarter. FIL Ltd now owns 842,786 shares of the business services provider’s stock valued at $81,160,000 after acquiring an additional 118,346 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Republic Services by 3.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,077,396 shares of the business services provider’s stock worth $103,753,000 after purchasing an additional 31,775 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Republic Services by 5.6% during the 4th quarter. Handelsbanken Fonder AB now owns 48,712 shares of the business services provider’s stock valued at $4,691,000 after purchasing an additional 2,600 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of Republic Services in the 4th quarter valued at about $1,238,000. Hedge funds and other institutional investors own 56.78% of the company’s stock.
Republic Services stock opened at $102.38 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $95.14 and a 200-day moving average of $94.67. The company has a market cap of $32.65 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 2.77 and a beta of 0.64. Republic Services, Inc. has a one year low of $74.82 and a one year high of $103.79.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be paid a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $1.70 dividend on an annualized basis and a yield of 1.66%. Republic Services’s dividend payout ratio (DPR) is currently 50.90%.
A number of equities analysts have issued reports on the stock. Bank of America cut shares of Republic Services from a “buy” rating to a “neutral” rating in a research note on Monday, January 11th. Morgan Stanley lifted 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. JPMorgan Chase & Co. raised Republic Services from a “neutral” rating to an “overweight” rating and set a $102.00 target price on the stock in a research note on Monday, March 1st. BMO Capital Markets decreased their target price on Republic Services from $107.00 to $102.00 and set an “outperform” rating for the company in a research report on Tuesday, March 2nd. Finally, Zacks Investment Research lowered shares of Republic Services from a “hold” rating to a “sell” rating and set a $101.00 price objective on the stock. in a research note on Wednesday, January 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $99.86.
In related news, major shareholder Cascade Investment, L.L.C. acquired 10,055 shares of the business’s stock in a transaction on Wednesday, March 31st. The stock was purchased at an average cost of $99.44 per share, for a total transaction of $999,869.20. Following the completion of the transaction, the insider now directly owns 108,812,574 shares of the company’s stock, valued at approximately $10,820,322,358.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate 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.
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