SG Americas Securities LLC lowered its stake in Republic Services, Inc. (NYSE:RSG) by 17.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,065 shares of the business services provider’s stock after selling 21,501 shares during the period. SG Americas Securities LLC’s holdings in Republic Services were worth $6,632,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position 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 valued at $1,197,070,000 after buying an additional 18,401,448 shares during the last quarter. Vanguard Group Inc. increased its position 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 valued at $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC increased its position 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 valued at $54,959,000 after buying an additional 671,300 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Republic Services during the first quarter valued at about $39,751,000. Finally, State Street Corp increased its position 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 valued at $731,866,000 after buying an additional 501,491 shares during the last quarter. Institutional investors and hedge funds own 61.33% of the company’s stock.
Shares of Republic Services, Inc. (NYSE:RSG) opened at 64.13 on Friday. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54. The stock has a 50 day moving average price of $64.41 and a 200 day moving average price of $62.83. The firm has a market capitalization of $21.60 billion, a PE ratio of 32.92 and a beta of 0.58.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. Equities research analysts anticipate that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.345 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is currently 65.64%.
RSG has been the subject of several research analyst reports. Barclays PLC reiterated a “hold” rating and issued a $59.00 price objective on shares of Republic Services in a research report on Friday, April 28th. Credit Suisse Group set a $63.00 price objective on Republic Services and gave the company a “hold” rating in a research report on Sunday, April 30th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets initiated coverage on Republic Services in a research report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target 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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