BlackRock Inc. Has $2.28 Billion Stock Position in Republic Services, Inc. (NYSE:RSG)

BlackRock Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 4.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 20,712,888 shares of the business services provider’s stock after acquiring an additional 792,584 shares during the period. BlackRock Inc. owned about 0.07% of Republic Services worth $2,278,625,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RSG. Teacher Retirement System of Texas increased its holdings in Republic Services by 3.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 316,671 shares of the business services provider’s stock worth $34,837,000 after purchasing an additional 9,128 shares in the last quarter. Credit Suisse AG increased its holdings in Republic Services by 2.3% in the 1st quarter. Credit Suisse AG now owns 1,054,724 shares of the business services provider’s stock worth $104,788,000 after purchasing an additional 23,631 shares in the last quarter. Korea Investment CORP increased its holdings in Republic Services by 20.8% in the 1st quarter. Korea Investment CORP now owns 85,300 shares of the business services provider’s stock worth $8,475,000 after purchasing an additional 14,700 shares in the last quarter. Transform Wealth LLC acquired a new position in Republic Services in the 2nd quarter worth about $221,000. Finally, Guardian Wealth Advisors LLC acquired a new position in Republic Services in the 1st quarter worth about $100,000. 57.60% of the stock is owned by institutional investors.

In other Republic Services news, CFO Brian M. Delghiaccio sold 2,074 shares of Republic Services stock in a transaction dated Wednesday, July 7th. The stock was sold at an average price of $114.00, for a total transaction of $236,436.00. Following the completion of the sale, the chief financial officer now owns 3,379 shares of the company’s stock, valued at $385,206. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

RSG has been the subject of a number of recent research reports. Oppenheimer upped their target price on Republic Services from $117.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. The Goldman Sachs Group upgraded Republic Services from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, August 24th. Raymond James restated an “outperform” rating and set a $116.14 target price (down previously from $117.00) on shares of Republic Services in a research report on Monday, July 26th. Royal Bank of Canada upped their target price on Republic Services from $111.00 to $118.00 and gave the company a “sector perform” rating in a research report on Friday, July 30th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their target price on Republic Services from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Monday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $113.93.

NYSE:RSG opened at $124.49 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day simple moving average of $120.69 and a two-hundred day simple moving average of $111.10. Republic Services, Inc. has a 1 year low of $86.18 and a 1 year high of $126.25. The company has a market capitalization of $39.63 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.88 and a beta of 0.71.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 29th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.72 billion. Republic Services had a return on equity of 15.01% and a net margin of 10.64%. As a group, analysts anticipate that Republic Services, Inc. will post 4.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 1st will be paid a dividend of $0.46 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.48%. Republic Services’s dividend payout ratio (DPR) is currently 47.75%.

Republic Services Company Profile

Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

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

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