Franklin Resources Inc. Trims Stake in Republic Services, Inc. (NYSE:RSG)

Franklin Resources Inc. cut its stake in shares of Republic Services, Inc. (NYSE:RSGFree Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,109,719 shares of the business services provider’s stock after selling 21,362 shares during the period. Franklin Resources Inc. owned about 0.67% of Republic Services worth $347,914,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RSG. Norges Bank bought a new position in shares of Republic Services during the 4th quarter valued at approximately $358,837,000. Magellan Asset Management Ltd increased its holdings in shares of Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after buying an additional 913,267 shares during the last quarter. FMR LLC increased its stake in Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after acquiring an additional 563,761 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Republic Services during the fourth quarter valued at approximately $77,417,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Republic Services by 50.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock worth $128,352,000 after purchasing an additional 303,754 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group lifted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group raised their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a research note on Friday, March 15th. Jefferies Financial Group raised their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Scotiabank lifted their target price on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.00.

Get Our Latest Report on Republic Services

Insider Activity

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.1 %

RSG stock traded down $0.10 on Wednesday, hitting $186.38. 93,610 shares of the company’s stock were exchanged, compared to its average volume of 1,203,361. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a 50 day moving average price of $188.78 and a two-hundred day moving average price of $175.68. The stock has a market cap of $58.70 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. Republic Services, Inc. has a 12-month low of $140.07 and a 12-month high of $196.76.

Republic Services (NYSE:RSGGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Republic Services Profile

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.

Further Reading

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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