Arizona State Retirement System cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,443 shares of the business services provider’s stock after selling 1,389 shares during the quarter. Arizona State Retirement System’s holdings in Republic Services were worth $9,333,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Qube Research & Technologies Ltd lifted its stake in Republic Services by 57.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock valued at $132,000 after buying an additional 704 shares during the last quarter. Amalgamated Bank lifted its stake in Republic Services by 2.6% in the second quarter. Amalgamated Bank now owns 28,786 shares of the business services provider’s stock valued at $1,968,000 after buying an additional 742 shares during the last quarter. Townsend & Associates Inc lifted its stake in Republic Services by 7.2% in the second quarter. Townsend & Associates Inc now owns 11,076 shares of the business services provider’s stock valued at $757,000 after buying an additional 745 shares during the last quarter. OLD National Bancorp IN lifted its stake in Republic Services by 3.4% in the third quarter. OLD National Bancorp IN now owns 23,190 shares of the business services provider’s stock valued at $1,685,000 after buying an additional 761 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Republic Services by 2.5% in the second quarter. Van ECK Associates Corp now owns 32,800 shares of the business services provider’s stock valued at $2,242,000 after buying an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 60.87% of the company’s stock.
In related news, Director Jennifer M. Kirk acquired 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $72.35 per share, for a total transaction of $108,525.00. Following the completion of the purchase, the director now directly owns 1,500 shares in the company, valued at $108,525. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Donald W. Slager sold 225,734 shares of Republic Services stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $73.02, for a total transaction of $16,483,096.68. Following the sale, the insider now owns 378,023 shares in the company, valued at $27,603,239.46. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
Shares of NYSE RSG opened at $71.63 on Friday. Republic Services, Inc. has a fifty-two week low of $60.26 and a fifty-two week high of $75.82. The company has a current ratio of 0.56, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock has a market cap of $23.37 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.19 and a beta of 0.57.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. As a group, analysts predict that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, December 31st. Republic Services’s dividend payout ratio is currently 61.73%.
RSG has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Bank of America cut Republic Services from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a research note on Wednesday, October 24th. Oppenheimer reiterated a “hold” rating on shares of Republic Services in a research note on Friday, October 26th. BMO Capital Markets raised their target price on Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research note on Thursday, August 16th. Finally, ValuEngine upgraded Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $73.71.
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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