Gareth Morgan Investments Limited Partnership Lowers stake in Republic Services (RSG)

Republic Services (RSG) : Gareth Morgan Investments Limited Partnership reduced its stake in Republic Services by 30.49% during the most recent quarter end. The investment management company now holds a total of 345,106 shares of Republic Services which is valued at $16.7 Million after selling 151,376 shares in Republic Services , the firm said in a disclosure report filed with the SEC on May 11, 2016.Republic Services makes up approximately 1.73% of Gareth Morgan Investments Limited Partnership’s portfolio.

Other Hedge Funds, Including , Proshare Advisors reduced its stake in RSG by selling 17,327 shares or 25.61% in the most recent quarter. The Hedge Fund company now holds 50,342 shares of RSG which is valued at $2.4 Million. Republic Services makes up approx 0.03% of Proshare Advisors’s portfolio.Lee Danner Bass Inc reduced its stake in RSG by selling 5,986 shares or 4.54% in the most recent quarter. The Hedge Fund company now holds 125,722 shares of RSG which is valued at $5.9 Million. Republic Services makes up approx 0.74% of Lee Danner Bass Inc’s portfolio.

Republic Services opened for trading at $48.4 and hit $48.79 on the upside on Monday, eventually ending the session at $48.61, with a gain of 0.31% or 0.15 points. The heightened volatility saw the trading volume jump to 9,66,628 shares. Company has a market cap of $16,717 M.

On the company’s financial health, Republic Services reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.47. The company had revenue of $2248.60 million for the quarter, compared to analysts expectations of $2233.66 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Republic Services. Company shares were Upgraded by Barclays on May 3, 2016 to ” Overweight”, Firm has raised the Price Target to $ 52 from a previous price target of $45 .Company shares were Reiterated by First Analysis Sec on Apr 7, 2016 to “Equal-Weight”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .Republic Services was Initiated by Sterne Agee CRT to “Neutral” on Mar 22, 2016.

Republic Services Inc. is a provider of services in the domestic non-hazardous solid waste services industry. The Company provides non-hazardous solid waste collection services for commercial industrial municipal and residential customers. The Company operates three geographic operating regions that are also its segments: East Central and West. Each region is organized into several areas and each area contains multiple business units or operating locations. The Company has approximately 340 collection operations owned or operated 198 transfer stations 189 active solid waste landfills and 60 recycling centers. It also operates approximately 72 landfill gas and renewable energy projects. The Company operates in 39 states and Puerto Rico. The Company provides collection transfer recycling and landfill services in all its regions.

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