Candriam Luxembourg S.C.A. boosted its position in shares of Republic Services Inc. (NYSE:RSG) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,683 shares of the company’s stock after buying an additional 2,542 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Republic Services were worth $1,318,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of RSG. Bank of Montreal Can purchased a new stake in Republic Services during the second quarter worth approximately $46,588,000. Credit Agricole S A raised its stake in Republic Services by 209.5% in the first quarter. Credit Agricole S A now owns 927,384 shares of the company’s stock worth $44,190,000 after buying an additional 627,718 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Republic Services by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,310,027 shares of the company’s stock worth $348,323,000 after buying an additional 408,045 shares in the last quarter. Bessemer Group Inc. raised its stake in Republic Services by 716.2% in the first quarter. Bessemer Group Inc. now owns 442,507 shares of the company’s stock worth $21,086,000 after buying an additional 388,289 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Republic Services by 10.6% in the first quarter. BlackRock Group LTD now owns 2,655,591 shares of the company’s stock worth $126,539,000 after buying an additional 255,506 shares in the last quarter. Institutional investors own 61.01% of the company’s stock.
Republic Services Inc. (NYSE:RSG) traded down 0.14% during mid-day trading on Wednesday, hitting $49.85. 1,534,011 shares of the stock were exchanged. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $52.92. The stock has a 50 day moving average of $50.66 and a 200-day moving average of $49.54. The stock has a market cap of $17.09 billion, a price-to-earnings ratio of 23.95 and a beta of 0.54.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The company earned $2.35 billion during the quarter, compared to the consensus estimate of $2.38 billion. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. Republic Services’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. Equities analysts predict that Republic Services Inc. will post $2.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a $0.32 dividend. The ex-dividend date is Thursday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 2.57%. Republic Services’s dividend payout ratio (DPR) is currently 61.84%.
RSG has been the subject of a number of recent analyst reports. Imperial Capital upped their price target on shares of Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, September 28th. Macquarie began coverage on shares of Republic Services in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective on the stock. Finally, Barclays PLC boosted their price objective on shares of Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.90.
In related news, insider Donald W. Slager sold 26,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $50.37, for a total value of $1,309,620.00. Following the completion of the sale, the insider now directly owns 234,397 shares in the company, valued at $11,806,576.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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