TNB Financial held its stake in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,407 shares of the business services provider’s stock at the end of the second quarter. TNB Financial’s holdings in Republic Services were worth $281,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after buying an additional 18,401,448 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Republic Services by 329.6% in the first quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock worth $54,959,000 after buying an additional 671,300 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Republic Services during the first quarter worth $39,751,000. Finally, State Street Corp increased its stake in shares of Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after buying an additional 501,491 shares during the last quarter. 61.66% of the stock is owned by institutional investors and hedge funds.
Republic Services, Inc. (NYSE:RSG) opened at 63.98 on Friday. The firm has a market cap of $21.55 billion, a P/E ratio of 32.84 and a beta of 0.58. Republic Services, Inc. has a 12-month low of $49.18 and a 12-month high of $65.54. The company has a 50-day moving average price of $64.37 and a 200-day moving average price of $62.64.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.345 dividend. This is a boost 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 2.16%. Republic Services’s dividend payout ratio is presently 65.64%.
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Several research firms have issued reports on RSG. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Credit Suisse Group set a $69.00 price objective on Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. Barclays PLC restated a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. BMO Capital Markets boosted their price objective on Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $73.00 price objective on shares of Republic Services in a report on Wednesday, July 19th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Republic Services 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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