Strategy Asset Managers LLC decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,533 shares of the business services provider’s stock after selling 2,317 shares during the period. Strategy Asset Managers LLC’s holdings in Republic Services were worth $2,876,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of RSG. Evercore Wealth Management LLC grew its position in Republic Services by 48.6% during the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 521 shares during the last quarter. Sun Life Financial INC raised its stake in Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,672 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in Republic Services in the second quarter valued at about $141,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in shares of Republic Services in the second quarter valued at about $191,000. 60.98% of the stock is owned by institutional investors.
In related news, EVP Catharine D. Ellingsen sold 14,250 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the sale, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at $528,622.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.05, for a total value of $1,493,258.40. Following the sale, the insider now directly owns 246,617 shares in the company, valued at $16,289,052.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,187 shares of company stock worth $2,854,922. 0.40% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on RSG. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Bank of America Corporation cut their price objective on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 price objective on Republic Services and gave the company a “hold” rating in a report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Republic Services has a consensus rating of “Hold” and a consensus price target of $67.71.
Republic Services, Inc. (NYSE:RSG) traded up $0.47 during trading on Monday, reaching $63.92. The company had a trading volume of 439,913 shares, compared to its average volume of 1,135,242. The firm has a market capitalization of $21,310.00, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 3.12 and a beta of 0.62. Republic Services, Inc. has a 12-month low of $52.83 and a 12-month high of $67.18. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. sell-side analysts anticipate that Republic Services, Inc. will post 2.4 earnings per share for the current fiscal year.
Republic Services announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is 58.47%.
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About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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