Korea Investment CORP lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,610 shares of the business services provider’s stock after selling 8,400 shares during the quarter. Korea Investment CORP’s holdings in Republic Services were worth $5,325,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Thrivent Financial For Lutherans boosted its stake in Republic Services by 6.4% in the first quarter. Thrivent Financial For Lutherans now owns 8,480 shares of the business services provider’s stock worth $533,000 after buying an additional 510 shares in the last quarter. KAMES CAPITAL plc boosted its stake in Republic Services by 29.8% in the second quarter. KAMES CAPITAL plc now owns 18,582 shares of the business services provider’s stock worth $1,185,000 after buying an additional 4,266 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its stake in Republic Services by 708.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 318,945 shares of the business services provider’s stock worth $20,326,000 after buying an additional 279,516 shares in the last quarter. Creative Planning boosted its stake in Republic Services by 12.0% in the second quarter. Creative Planning now owns 12,984 shares of the business services provider’s stock worth $827,000 after buying an additional 1,392 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Republic Services by 1.1% in the second quarter. Fisher Asset Management LLC now owns 33,525 shares of the business services provider’s stock worth $2,137,000 after buying an additional 361 shares in the last quarter. 60.65% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (RSG) opened at $63.90 on Friday. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.92 and a beta of 0.61. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.92.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.57%. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. equities analysts expect that Republic Services, Inc. will post 2.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.16%. Republic Services’s dividend payout ratio (DPR) is 58.47%.
Several analysts have issued reports on the company. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research note on Friday. BMO Capital Markets reaffirmed a “buy” rating and issued a $72.00 target price on shares of Republic Services in a research note on Friday, October 13th. Bank of America Corporation cut their target price on Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Stifel Nicolaus lowered Republic Services from a “buy” rating to a “hold” rating and cut their target price for the stock from $76.00 to $70.00 in a research note on Wednesday, October 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Republic Services presently has a consensus rating of “Hold” and an average price target of $68.29.
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In other Republic Services news, EVP Catharine D. Ellingsen sold 14,250 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.02, for a total value of $940,785.00. Following the sale, the executive vice president now owns 8,007 shares in the company, valued at $528,622.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction that occurred on 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 owns 246,617 shares in the company, valued at approximately $16,289,052.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,187 shares of company stock worth $2,854,922. 0.40% of the stock is owned by company insiders.
Republic Services 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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