Wellington Management Group LLP Cuts Holdings in Republic Services, Inc. (NYSE:RSG)

Wellington Management Group LLP reduced its position in Republic Services, Inc. (NYSE:RSG) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 624,477 shares of the business services provider’s stock after selling 3,553 shares during the quarter. Wellington Management Group LLP owned about 0.20% of Republic Services worth $102,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RSG. Capital World Investors increased its holdings in Republic Services by 416.9% in the 4th quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Norges Bank acquired a new stake in Republic Services in the 4th quarter valued at $358,837,000. Magellan Asset Management Ltd increased its holdings in 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 valued at $130,158,000 after purchasing an additional 913,267 shares in the last quarter. FMR LLC increased its holdings in Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after purchasing an additional 563,761 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Republic Services in the 4th quarter valued at $77,417,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth purchased 540 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Republic Services news, Director Katharine Weymouth purchased 540 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services 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 sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

Shares of NYSE RSG opened at $191.83 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $188.06 and its two-hundred day moving average price is $179.78. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $196.76. The stock has a market capitalization of $60.41 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.22 and a beta of 0.68.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company posted $1.24 earnings per share. Republic Services’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. Republic Services’s dividend payout ratio is currently 37.54%.

Analyst Ratings Changes

RSG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price target for the company. Scotiabank raised their target price on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group raised their target price on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group raised their target price on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Citigroup raised their target price on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $201.14.

Republic Services Profile

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.