Eaton Vance Management reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 64.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 289,597 shares of the business services provider’s stock after selling 530,114 shares during the period. Eaton Vance Management’s holdings in Republic Services were worth $21,042,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in shares of Republic Services in the 2nd quarter valued at $178,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Republic Services by 5.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 918,735 shares of the business services provider’s stock valued at $62,805,000 after purchasing an additional 45,165 shares in the last quarter. Cognios Capital LLC increased its stake in Republic Services by 2.3% during the 2nd quarter. Cognios Capital LLC now owns 37,354 shares of the business services provider’s stock valued at $2,553,000 after purchasing an additional 843 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Republic Services during the 2nd quarter valued at $2,319,000. Finally, First Trust Advisors LP increased its stake in Republic Services by 31.5% during the 2nd quarter. First Trust Advisors LP now owns 769,036 shares of the business services provider’s stock valued at $52,571,000 after purchasing an additional 184,239 shares in the last quarter. 60.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Bank of America boosted their price target on shares of Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, August 17th. BMO Capital Markets boosted their price target on shares of Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research note on Thursday, August 16th. Oppenheimer restated a “hold” rating on shares of Republic Services in a research note on Friday, October 26th. Finally, Stifel Nicolaus boosted their price target on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $73.71.
NYSE RSG opened at $77.35 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $25.10 billion, a PE ratio of 31.83, a PEG ratio of 2.36 and a beta of 0.54. Republic Services, Inc. has a 1 year low of $60.26 and a 1 year high of $78.08.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. Analysts forecast that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, December 31st. Republic Services’s dividend payout ratio (DPR) is presently 61.73%.
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Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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