SG Americas Securities LLC increased its stake in Republic Services, Inc. (NYSE:RSG) by 21.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,748 shares of the business services provider’s stock after acquiring an additional 22,683 shares during the quarter. SG Americas Securities LLC’s holdings in Republic Services were worth $8,373,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC increased its holdings in Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after acquiring an additional 223 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Republic Services in the 2nd quarter worth $12,536,000. Royal Bank of Canada increased its holdings in Republic Services by 11.0% in the 2nd quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock worth $78,399,000 after acquiring an additional 121,632 shares in the last quarter. Dearborn Partners LLC increased its holdings in Republic Services by 3.4% in the 2nd quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock worth $28,746,000 after acquiring an additional 14,701 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Republic Services by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after acquiring an additional 418,797 shares in the last quarter. 60.98% of the stock is owned by institutional investors.
In related news, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.05, for a total value of $1,493,258.40. Following the completion of the sale, the insider now owns 246,617 shares of the company’s stock, valued at $16,289,052.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at approximately $28,462. The disclosure for this sale can be found here. Insiders sold 75,608 shares of company stock valued at $4,929,866 in the last three months. 0.40% of the stock is currently owned by insiders.
Several equities research analysts recently commented on RSG shares. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC reissued a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. BMO Capital Markets upped their target price on shares of Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Republic Services currently has a consensus rating of “Hold” and a consensus price target of $67.71.
Republic Services, Inc. (RSG) traded down $0.80 during trading on Friday, hitting $62.44. 819,637 shares of the stock were exchanged, compared to its average volume of 1,134,024. Republic Services, Inc. has a fifty-two week low of $54.47 and a fifty-two week high of $67.18. The stock has a market capitalization of $21,140.00, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. equities analysts expect that Republic Services, Inc. will post 2.4 EPS for the current fiscal year.
Republic Services announced that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio is currently 58.47%.
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Republic Services Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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