Republic Services, Inc. (NYSE:RSG) CAO Brian A. Goebel sold 1,290 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $68.44, for a total transaction of $88,287.60. Following the sale, the chief accounting officer now directly owns 6,696 shares of the company’s stock, valued at $458,274.24. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Republic Services, Inc. (NYSE RSG) traded down $0.34 during mid-day trading on Thursday, reaching $67.91. 1,250,867 shares of the company’s stock traded hands, compared to its average volume of 1,259,008. The firm has a market cap of $22,700.00, a price-to-earnings ratio of 28.78, a P/E/G ratio of 3.11 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54. Republic Services, Inc. has a 52 week low of $56.83 and a 52 week high of $69.12.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion during 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 10.58%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. equities research analysts predict that Republic Services, Inc. will post 2.4 earnings per share for the current fiscal year.
Republic Services declared that its Board of Directors has authorized a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price target on shares of Republic Services in a report on Friday, October 13th. Credit Suisse Group lowered their price target on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Finally, Bank of America lowered their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.14.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Republic Services by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after acquiring an additional 418,797 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Republic Services by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock worth $453,398,000 after acquiring an additional 23,456 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Republic Services by 2.2% during the 3rd quarter. Wells Fargo & Company MN now owns 5,201,905 shares of the business services provider’s stock worth $343,639,000 after acquiring an additional 114,211 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Republic Services by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock worth $254,177,000 after acquiring an additional 102,801 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Republic Services by 0.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,663,050 shares of the business services provider’s stock worth $175,921,000 after acquiring an additional 7,903 shares in the last quarter. 59.97% of the stock is owned by institutional investors.
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About Republic Services
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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