LS Investment Advisors LLC raised its stake in Republic Services Inc. (NYSE:RSG) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 40,429 shares of the company’s stock after buying an additional 1,506 shares during the period. LS Investment Advisors LLC’s holdings in Republic Services were worth $2,074,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board increased its position in shares of Republic Services by 729.3% in the first quarter. Canada Pension Plan Investment Board now owns 125,900 shares of the company’s stock valued at $5,999,000 after buying an additional 110,718 shares in the last quarter. Credit Agricole S A increased 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 during the period. Aviva PLC increased its stake in Republic Services by 0.5% in the first quarter. Aviva PLC now owns 300,699 shares of the company’s stock worth $14,328,000 after buying an additional 1,433 shares during the period. ING Groep NV purchased a new stake in Republic Services during the first quarter worth $261,000. Finally, Huntington Asset Advisors Inc. purchased a new stake in Republic Services during the first quarter worth $1,644,000. Institutional investors and hedge funds own 61.01% of the company’s stock.
Shares of Republic Services Inc. (NYSE:RSG) traded down 0.46% during mid-day trading on Friday, reaching $49.49. 1,296,354 shares of the company’s stock traded hands. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 23.78 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 posted its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company earned $2.35 billion during the quarter, compared to analyst estimates of $2.38 billion. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. Equities analysts expect that Republic Services Inc. will post $2.16 earnings per share for the current fiscal 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 issued a dividend of $0.32 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.28 annualized dividend and a dividend yield of 2.59%. Republic Services’s dividend payout ratio (DPR) is presently 61.84%.
A number of research firms have weighed in on RSG. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 29th. Barclays PLC upped their target price on Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Macquarie began coverage on Republic Services in a research report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price for the company. Finally, Imperial Capital upped their target price on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Republic Services has an average rating of “Buy” and an average target price of $51.90.
In related 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 sale, the insider now owns 234,397 shares of the company’s stock, valued at $11,806,576.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.
Republic Services Company Profile
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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