Earnest Partners LLC raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 836,214 shares of the business services provider’s stock after buying an additional 31,130 shares during the quarter. Earnest Partners LLC’s holdings in Republic Services were worth $72,450,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its stake in Republic Services by 2.7% during the 2nd quarter. BlackRock Inc. now owns 21,974,898 shares of the business services provider’s stock valued at $1,903,906,000 after purchasing an additional 581,754 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Republic Services by 1.8% in the second quarter. Wells Fargo & Company MN now owns 5,350,319 shares of the business services provider’s stock worth $463,551,000 after buying an additional 95,240 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Republic Services by 9.3% in the fourth quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock worth $275,009,000 after buying an additional 324,355 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Republic Services by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 3,434,049 shares of the business services provider’s stock worth $297,321,000 after buying an additional 241,028 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Republic Services by 1.1% in the second quarter. Northern Trust Corp now owns 3,037,946 shares of the business services provider’s stock worth $263,207,000 after buying an additional 34,042 shares during the last quarter. Institutional investors and hedge funds own 59.64% of the company’s stock.
A number of brokerages have issued reports on RSG. Royal Bank of Canada set a $91.00 price target on Republic Services and gave the stock a “hold” rating in a research report on Friday, July 26th. Raymond James set a $93.00 target price on Republic Services and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. began coverage on Republic Services in a report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Republic Services currently has a consensus rating of “Hold” and a consensus price target of $84.67.
In related news, CEO Donald W. Slager sold 48,891 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $90.00, for a total value of $4,400,190.00. Following the completion of the transaction, the chief executive officer now directly owns 333,846 shares in the company, valued at $30,046,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Donald W. Slager sold 95,126 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $90.00, for a total value of $8,561,340.00. Following the completion of the transaction, the chief executive officer now owns 382,736 shares of the company’s stock, valued at $34,446,240. The disclosure for this sale can be found here. Insiders sold 147,117 shares of company stock valued at $13,240,530 over the last quarter. 0.30% of the stock is currently owned by company insiders.
NYSE:RSG opened at $86.13 on Friday. Republic Services, Inc. has a one year low of $67.48 and a one year high of $90.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market cap of $27.54 billion, a PE ratio of 27.87, a P/E/G ratio of 2.93 and a beta of 0.50. The stock has a 50 day moving average price of $88.89 and a 200 day moving average price of $84.31.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.62 billion. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.88%. This is a positive change from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 30th. Republic Services’s dividend payout ratio is presently 48.54%.
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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