Arizona State Retirement System reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 8.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 175,161 shares of the business services provider’s stock after selling 15,200 shares during the period. Arizona State Retirement System’s holdings in Republic Services were worth $11,163,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Cribstone Capital Management LLC bought a new stake in Republic Services during the first quarter valued at $121,000. Whittier Trust Co. of Nevada Inc. boosted its stake in 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 buying an additional 1,078 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in Republic Services during the first quarter valued at $203,000. Fox Run Management L.L.C. bought a new stake in Republic Services during the first quarter valued at $204,000. Finally, Pillar Pacific Capital Management LLC bought a new stake in Republic Services during the first quarter valued at $205,000. Hedge funds and other institutional investors own 61.66% of the company’s stock.
Republic Services, Inc. (NYSE RSG) opened at 64.08 on Friday. Republic Services, Inc. has a one year low of $49.18 and a one year high of $65.54. The firm has a market cap of $21.58 billion, a PE ratio of 32.90 and a beta of 0.58. The company’s 50-day moving average is $64.36 and its 200-day moving average is $62.59.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. On average, analysts forecast that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.345 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.15%. Republic Services’s dividend payout ratio (DPR) is 65.64%.
Several equities research analysts have recently commented on the stock. Credit Suisse Group set a $63.00 price target on shares of Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. BMO Capital Markets lifted their price target on shares of Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Thursday, May 25th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price target on shares of Republic Services in a research report on Wednesday, July 19th. Finally, Barclays PLC reiterated a “neutral” rating on shares of Republic Services in a research report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Republic Services currently has an average rating of “Hold” and a consensus target price of $69.78.
Republic Services Company Profile
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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