Mount Yale Investment Advisors LLC bought a new position in shares of Republic Services (NYSE:RSG) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,839 shares of the business services provider’s stock, valued at approximately $254,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its stake in Republic Services by 2.1% during the 1st quarter. BlackRock Inc. now owns 20,456,218 shares of the business services provider’s stock worth $1,354,817,000 after buying an additional 425,547 shares during the period. JPMorgan Chase & Co. increased its stake in Republic Services by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,894,618 shares of the business services provider’s stock worth $456,630,000 after buying an additional 367,769 shares during the period. Geode Capital Management LLC increased its stake in Republic Services by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 2,884,821 shares of the business services provider’s stock worth $194,696,000 after buying an additional 285,988 shares during the period. Renaissance Technologies LLC increased its stake in Republic Services by 10.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,250,500 shares of the business services provider’s stock worth $152,156,000 after buying an additional 217,500 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in Republic Services by 8.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,026,319 shares of the business services provider’s stock worth $134,203,000 after buying an additional 155,395 shares during the period. 60.17% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Jeffrey A. Hughes sold 16,200 shares of the company’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $68.00, for a total value of $1,101,600.00. Following the completion of the transaction, the executive vice president now owns 16,200 shares in the company, valued at approximately $1,101,600. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.
Shares of NYSE:RSG opened at $68.36 on Friday. Republic Services has a 52 week low of $60.26 and a 52 week high of $69.97. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.00 and a beta of 0.55.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. Republic Services had a net margin of 13.18% and a return on equity of 11.29%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts forecast that Republic Services will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, June 29th. Republic Services’s payout ratio is 56.79%.
Several brokerages recently weighed in on RSG. Zacks Investment Research downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Argus raised shares of Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, May 10th. Raymond James downgraded shares of Republic Services from a “strong-buy” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research report on Wednesday, April 11th. UBS Group downgraded shares of Republic Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 11th. Finally, Oppenheimer reissued a “hold” rating on shares of Republic Services in a research report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.14.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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