Point72 Hong Kong Ltd Has $379,000 Position in Republic Services, Inc. (NYSE:RSG)
Point72 Hong Kong Ltd increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 88.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,233 shares of the business services provider’s stock after acquiring an additional 1,990 shares during the period. Point72 Hong Kong Ltd’s holdings in Republic Services were worth $379,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Republic Services by 0.5% during the fourth quarter. State Street Corp now owns 10,827,082 shares of the business services provider’s stock worth $974,761,000 after buying an additional 50,532 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Republic Services by 16.0% during the fourth quarter. Pictet Asset Management Ltd. now owns 3,364,565 shares of the business services provider’s stock valued at $301,566,000 after purchasing an additional 464,369 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Republic Services by 19.2% during the fourth quarter. AQR Capital Management LLC now owns 2,171,325 shares of the business services provider’s stock valued at $194,616,000 after purchasing an additional 349,918 shares in the last quarter. Parnassus Investments CA increased its stake in shares of Republic Services by 17.5% during the fourth quarter. Parnassus Investments CA now owns 1,888,414 shares of the business services provider’s stock valued at $169,259,000 after purchasing an additional 281,197 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Republic Services by 7.4% during the fourth quarter. Bank of America Corp DE now owns 1,782,501 shares of the business services provider’s stock valued at $159,765,000 after purchasing an additional 123,029 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.
Shares of NYSE RSG traded up $0.25 during mid-day trading on Wednesday, reaching $71.74. The company’s stock had a trading volume of 2,745,370 shares, compared to its average volume of 1,514,732. The stock has a 50-day moving average of $91.27 and a two-hundred day moving average of $89.29. The stock has a market capitalization of $22.08 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.40 and a beta of 0.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.52. Republic Services, Inc. has a 1-year low of $65.37 and a 1-year high of $100.91.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, March 31st. Republic Services’s dividend payout ratio (DPR) is presently 48.50%.
In other Republic Services news, Director Ramon A. Rodriguez sold 4,127 shares of Republic Services stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.46, for a total value of $414,598.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian A. Bales sold 21,127 shares of Republic Services stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.16, for a total value of $2,116,080.32. Following the completion of the transaction, the executive vice president now owns 34,631 shares of the company’s stock, valued at approximately $3,468,640.96. The disclosure for this sale can be found here. Insiders have sold a total of 34,754 shares of company stock valued at $3,420,724 over the last ninety days. Company insiders own 0.30% of the company’s stock.
A number of equities research analysts have recently commented on RSG shares. Jefferies Financial Group started coverage on shares of Republic Services in a report on Wednesday, November 27th. They set a “buy” rating and a $100.00 price target on the stock. Deutsche Bank increased their price target on shares of Republic Services from $96.00 to $102.00 and gave the stock a “hold” rating in a report on Friday, February 14th. BMO Capital Markets upped their price objective on shares of Republic Services from $98.00 to $101.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. CIBC began coverage on shares of Republic Services in a research report on Tuesday, December 17th. They set a “neutral” rating and a $99.00 price objective for the company. Finally, UBS Group upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $109.00 in a research report on Wednesday, March 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Republic Services currently has an average rating of “Buy” and a consensus price target of $98.91.
Republic Services Company 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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