Tower Research Capital LLC TRC acquired a new stake in shares of Republic Services Inc. (NYSE:RSG) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,675 shares of the company’s stock, valued at approximately $292,000.
Several other hedge funds have also recently made changes to their positions in RSG. Vanguard Group Inc. increased its stake in shares of Republic Services by 3.0% in the second quarter. Vanguard Group Inc. now owns 17,055,617 shares of the company’s stock worth $875,123,000 after buying an additional 502,791 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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. Dimensional Fund Advisors LP increased its stake in shares of Republic Services by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,800,447 shares of the company’s stock worth $246,276,000 after buying an additional 230,214 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Republic Services by 19.1% in the second quarter. JPMorgan Chase & Co. now owns 4,423,451 shares of the company’s stock worth $226,969,000 after buying an additional 708,511 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Republic Services during the fourth quarter worth about $147,798,000. Hedge funds and other institutional investors own 61.01% of the company’s stock.
Republic Services Inc. (NYSE:RSG) opened at 50.76 on Wednesday. The stock has a market capitalization of $17.40 billion, a PE ratio of 24.39 and a beta of 0.59. Republic Services Inc. has a 1-year low of $40.05 and a 1-year high of $52.92. The company’s 50 day moving average is $50.83 and its 200-day moving average is $49.29.
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 Zacks’ consensus estimate of $0.55. The company earned $2.35 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $0.54 earnings per share. Analysts forecast that Republic Services Inc. will post $2.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 2.52%. Republic Services’s dividend payout ratio is currently 57.97%.
A number of analysts have issued reports on RSG shares. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 29th. Macquarie initiated coverage on shares of Republic Services in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price objective for the company. Imperial Capital lifted their price objective on shares of Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Barclays PLC lifted their price objective on shares of Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.70.
In other Republic Services news, CAO Brian A. Goebel sold 3,780 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $50.83, for a total transaction of $192,137.40. Following the completion of the transaction, the chief accounting officer now directly owns 7,671 shares in the company, valued at $389,916.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian A. Goebel sold 1,695 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $52.10, for a total transaction of $88,309.50. Following the transaction, the chief accounting officer now owns 6,391 shares of the company’s stock, valued at $332,971.10. The disclosure for this sale can be found here. Company 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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