Chase Investment Counsel Corp held its stake in Republic Services Inc. (NYSE:RSG) during the second quarter, Holdings Channel reports. The institutional investor owned 7,389 shares of the company’s stock at the end of the second quarter. Chase Investment Counsel Corp’s holdings in Republic Services were worth $379,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted 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 during the last quarter. BlackRock Group LTD boosted 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 during the last quarter. FDO Partners LLC bought a new stake in Republic Services during the first quarter worth $365,000. CLS Investments LLC boosted its stake in Republic Services by 53.7% in the first quarter. CLS Investments LLC now owns 26,717 shares of the company’s stock worth $1,273,000 after buying an additional 9,338 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Republic Services by 352.3% in the first quarter. Stratos Wealth Partners LTD. now owns 20,742 shares of the company’s stock worth $988,000 after buying an additional 16,156 shares during the last quarter. 61.01% of the stock is owned by institutional investors.
Republic Services Inc. (NYSE:RSG) traded down 0.35% during trading on Wednesday, reaching $50.59. The company had a trading volume of 1,156,950 shares. The firm has a market capitalization of $17.34 billion, a P/E ratio of 24.31 and a beta of 0.59. Republic Services Inc. has a 52-week low of $40.58 and a 52-week high of $52.92. The company has a 50-day moving average of $50.84 and a 200-day moving average of $49.44.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business 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 firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Analysts expect that Republic Services Inc. will post $2.16 EPS for the current fiscal year.
The business 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 dividend of $0.32 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Republic Services’s previous quarterly dividend of $0.30. Republic Services’s dividend payout ratio is currently 57.97%.
A number of research firms have weighed in on RSG. Imperial Capital increased their price objective on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Macquarie began coverage on Republic Services in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price for the company. Barclays PLC increased their target price on Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Finally, Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Wednesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Republic Services has a consensus rating of “Buy” and an average price target of $51.90.
In other news, CAO Brian A. Goebel sold 1,695 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $52.10, for a total transaction of $88,309.50. Following the completion of the transaction, the chief accounting officer now owns 6,391 shares of the company’s stock, valued at $332,971.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brian A. Goebel sold 3,780 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $50.83, for a total transaction of $192,137.40. Following the transaction, the chief accounting officer now directly owns 7,671 shares of the company’s stock, valued at approximately $389,916.93. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.
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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