First Allied Advisory Services Inc. purchased a new stake in Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,482 shares of the business services provider’s stock, valued at approximately $224,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of RSG. Evercore Wealth Management LLC increased its stake in Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 521 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in Republic Services in the second quarter valued at $141,000. Whittier Trust Co. of Nevada Inc. increased 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 purchasing an additional 1,078 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Republic Services in the second quarter valued at $191,000. Finally, Parallel Advisors LLC increased its stake in Republic Services by 59.2% in the first quarter. Parallel Advisors LLC now owns 3,336 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 1,240 shares in the last quarter. 60.56% of the stock is owned by hedge funds and other institutional investors.
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In other Republic Services news, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the sale, the insider now directly owns 246,617 shares in the company, valued at approximately $16,289,052.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.02, for a total transaction of $940,785.00. Following the sale, the executive vice president now owns 8,007 shares of the company’s stock, valued at $528,622.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,187 shares of company stock valued at $2,854,922. 0.40% of the stock is owned by company insiders.
A number of research analysts have recently issued reports on RSG shares. KeyCorp reiterated a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, July 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. BMO Capital Markets started coverage on shares of Republic Services in a report on Thursday, June 29th. They set an “outperform” rating and a $71.00 price objective for the company. Finally, Credit Suisse Group set a $69.00 price objective 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, nine have assigned a hold rating and three have assigned a buy rating to the company. Republic Services has a consensus rating of “Hold” and a consensus price target of $71.33.
Republic Services, Inc. (NYSE:RSG) opened at 63.32 on Thursday. Republic Services, Inc. has a one year low of $49.18 and a one year high of $67.18. The firm has a market capitalization of $21.32 billion, a PE ratio of 32.51 and a beta of 0.60. The stock’s 50 day moving average is $65.38 and its 200-day moving average is $64.10.
Republic Services (NYSE:RSG) last issued its quarterly 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 company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. Republic Services’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. On average, analysts anticipate that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid 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 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is currently 70.77%.
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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