ING Groep NV raised its position in shares of Republic Services Inc. (NYSE:RSG) by 52.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,336 shares of the company’s stock after buying an additional 2,861 shares during the period. ING Groep NV’s holdings in Republic Services were worth $428,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Hilton Capital Management LLC increased its stake in shares of Republic Services by 4.1% in the second quarter. Hilton Capital Management LLC now owns 224,133 shares of the company’s stock worth $11,500,000 after buying an additional 8,746 shares during the period. Retirement Systems of Alabama increased its stake in shares of Republic Services by 0.4% in the second quarter. Retirement Systems of Alabama now owns 244,455 shares of the company’s stock worth $12,543,000 after buying an additional 1,046 shares during the period. WESPAC Advisors LLC purchased a new stake in shares of Republic Services during the second quarter worth $1,192,000. Geode Capital Management LLC increased its stake in shares of Republic Services by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,082,515 shares of the company’s stock worth $99,046,000 after buying an additional 26,552 shares during the period. Finally, National Pension Service increased its stake in shares of Republic Services by 4.6% in the first quarter. National Pension Service now owns 174,785 shares of the company’s stock worth $8,329,000 after buying an additional 7,632 shares during the period. 61.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Republic Services Inc. (NYSE:RSG) traded up 0.81% during trading on Monday, reaching $49.89. 1,056,745 shares of the company’s stock traded hands. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 23.97 and a beta of 0.54. The company’s 50-day moving average is $50.57 and its 200 day moving average is $49.55. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $52.92.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The company earned $2.35 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the business earned $0.54 earnings per share. Republic Services’s revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Republic Services Inc. will post $2.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a $0.32 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, September 29th. Republic Services’s dividend payout ratio (DPR) is 61.84%.
A number of analysts have recently weighed in on the stock. Imperial Capital upped their price target on shares of Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Macquarie assumed coverage on shares of Republic Services in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price target for the company. Barclays PLC upped their price target on shares of Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Finally, Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, September 28th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Republic Services currently has a consensus rating of “Buy” and a consensus target price of $51.90.
In other news, insider Donald W. Slager sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total value of $1,309,620.00. Following the completion of the transaction, the insider now directly owns 234,397 shares in the company, valued at $11,806,576.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by 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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