Beaumont Financial Partners LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 6.7% during the first quarter, Holdings Channel reports. The institutional investor owned 3,813 shares of the business services provider’s stock after selling 275 shares during the period. Beaumont Financial Partners LLC’s holdings in Republic Services were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in Republic Services by 13,200.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 3,294,212 shares during the last quarter. Norges Bank bought a new position in Republic Services during the 4th quarter valued at about $216,948,000. BlackRock Inc. grew its holdings in Republic Services by 8.4% during the 4th quarter. BlackRock Inc. now owns 20,563,044 shares of the business services provider’s stock valued at $1,482,389,000 after purchasing an additional 1,600,885 shares during the last quarter. Pactiv General Employee Benefit Trust bought a new position in Republic Services during the 4th quarter valued at about $60,271,000. Finally, California Public Employees Retirement System grew its holdings in Republic Services by 49.0% during the 4th quarter. California Public Employees Retirement System now owns 1,179,278 shares of the business services provider’s stock valued at $85,014,000 after purchasing an additional 387,583 shares during the last quarter. Hedge funds and other institutional investors own 60.75% of the company’s stock.

In other news, CEO Donald W. Slager sold 69,966 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.66, for a total value of $5,783,389.56. Following the completion of the sale, the chief executive officer now owns 287,610 shares of the company’s stock, valued at approximately $23,773,842.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramon A. Rodriguez sold 5,480 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.75, for a total transaction of $437,030.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,575 shares of company stock valued at $12,472,125. 0.30% of the stock is owned by corporate insiders.

RSG has been the topic of several analyst reports. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $86.00 to $90.00 in a report on Monday, April 29th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Thursday, March 28th. Bank of America reiterated a “neutral” rating and set a $85.00 price target (up from $79.00) on shares of Republic Services in a report on Friday, April 26th. UBS Group upped their price target on shares of Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada started coverage on shares of Republic Services in a research report on Wednesday, May 1st. They issued a “sector perform” rating and a $87.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $81.97.

Republic Services stock opened at $83.76 on Wednesday. The stock has a market capitalization of $26.92 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 2.72 and a beta of 0.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.42 and a quick ratio of 0.42. Republic Services, Inc. has a 1 year low of $66.40 and a 1 year high of $84.21.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Republic Services had a net margin of 10.25% and a return on equity of 12.72%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. As a group, research analysts expect that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.375 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.50 annualized dividend and a yield of 1.79%. Republic Services’s dividend payout ratio (DPR) is 48.54%.

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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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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

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