Republic Services, Inc. (NYSE:RSG) insider Donald W. Slager sold 32,421 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $64.00, for a total transaction of $2,074,944.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Republic Services, Inc. (NYSE RSG) opened at $62.44 on Friday. The company has a market cap of $20,869.01, a price-to-earnings ratio of 26.02, a PEG ratio of 3.07 and a beta of 0.61. Republic Services, Inc. has a 1-year low of $54.47 and a 1-year high of $67.18. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. analysts predict that Republic Services, Inc. will post 2.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.345 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.21%. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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A number of research firms have weighed in on RSG. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Bank of America Corporation cut their target price on shares of 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. reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the company a “hold” rating in a report on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $67.71.
Institutional investors and hedge funds have recently made changes to their positions in the business. Evercore Wealth Management LLC increased its stake in Republic Services by 48.6% in the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after buying an additional 521 shares during the period. Sun Life Financial INC increased its stake in Republic Services by 20,900.0% in the 2nd 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 period. Almanack Investment Partners LLC. acquired a new position in Republic Services in the 2nd quarter valued at $141,000. Whittier Trust Co. of Nevada Inc. increased its stake in Republic Services by 59.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in Republic Services in the 2nd quarter valued at $191,000. 60.98% of the stock is currently owned by institutional investors.
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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