GAM Holding AG lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,891 shares of the business services provider’s stock after selling 3,843 shares during the period. GAM Holding AG’s holdings in Republic Services were worth $2,826,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of RSG. Piedmont Investment Advisors LLC purchased a new position in shares of Republic Services in the 2nd quarter valued at $178,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Republic Services by 5.2% in 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 acquiring an additional 45,165 shares during the period. Cognios Capital LLC raised its stake in shares of Republic Services by 2.3% in the 2nd quarter. Cognios Capital LLC now owns 37,354 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 843 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Republic Services in the 2nd quarter valued at $2,319,000. Finally, First Trust Advisors LP raised its stake in shares of Republic Services by 31.5% in 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 acquiring an additional 184,239 shares during the period. 60.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a report on Thursday, August 16th. Bank of America raised their price target on shares of Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a report on Friday, August 17th. Stifel Nicolaus raised their price target on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a report on Monday, September 10th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, October 26th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.71.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. Equities analysts forecast that Republic Services, Inc. will post 3.06 earnings per share for the current year.
The business 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 is Monday, December 31st. Republic Services’s dividend payout ratio is currently 61.73%.
In related news, Director Jennifer M. Kirk acquired 1,500 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average cost of $72.35 per share, with a total value of $108,525.00. Following the acquisition, the director now directly owns 1,500 shares in the company, valued at $108,525. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.
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About Republic Services
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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