Franklin Resources Inc. Cuts Position in Republic Services (RSG)

Franklin Resources Inc. lessened its holdings in Republic Services (NYSE:RSG) by 44.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,035,299 shares of the business services provider’s stock after selling 3,273,517 shares during the quarter. Franklin Resources Inc. owned about 1.23% of Republic Services worth $267,257,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new stake in Republic Services in the 4th quarter worth approximately $121,000. Signaturefd LLC purchased a new position in shares of Republic Services during the 1st quarter valued at approximately $149,000. Tower Research Capital LLC TRC lifted its position in shares of Republic Services by 1,070.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock valued at $199,000 after buying an additional 2,686 shares in the last quarter. Focused Wealth Management Inc purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $199,000. Finally, Welch & Forbes LLC purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $201,000. Institutional investors own 60.16% of the company’s stock.

Shares of RSG opened at $67.71 on Monday. Republic Services has a 52-week low of $60.26 and a 52-week high of $69.40. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 1.99 and a beta of 0.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.53 and a quick ratio of 0.53.

Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, May 2nd. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. Republic Services had a return on equity of 11.29% and a net margin of 13.18%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts forecast that Republic Services will post 3.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, June 29th. Republic Services’s dividend payout ratio (DPR) is presently 56.79%.

RSG has been the topic of a number of recent analyst reports. UBS lowered Republic Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 11th. Raymond James lowered Republic Services from a “strong-buy” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a report on Wednesday, April 11th. Bank of America raised their price objective on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, Credit Suisse Group decreased their price objective on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $72.14.

In related news, Director Tomago Collins sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $67.95, for a total transaction of $305,775.00. Following the completion of the sale, the director now directly owns 13,441 shares of the company’s stock, valued at approximately $913,315.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ark Jon Vander sold 9,236 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $68.45, for a total value of $632,204.20. Following the sale, the chief operating officer now directly owns 12,011 shares of the company’s stock, valued at $822,152.95. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

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; 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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