Cpwm LLC purchased a new stake in Republic Services, Inc. (NYSE:RSG) in the third quarter, according to its most recent filing with the SEC. The fund purchased 3,332 shares of the business services provider’s stock, valued at approximately $242,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. OppenheimerFunds Inc. grew its stake in Republic Services by 5.1% during the 3rd quarter. OppenheimerFunds Inc. now owns 2,415,120 shares of the business services provider’s stock worth $175,483,000 after buying an additional 117,922 shares during the last quarter. Bridgewater Associates LP bought a new position in Republic Services during the 3rd quarter worth $250,000. CLS Investments LLC grew its stake in Republic Services by 6.0% during the 3rd quarter. CLS Investments LLC now owns 32,636 shares of the business services provider’s stock worth $2,371,000 after buying an additional 1,843 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Republic Services by 41.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,138 shares of the business services provider’s stock worth $4,151,000 after buying an additional 16,690 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Republic Services during the 3rd quarter worth $782,000. Institutional investors and hedge funds own 60.02% of the company’s stock.
NYSE:RSG opened at $74.89 on Friday. Republic Services, Inc. has a 1 year low of $60.26 and a 1 year high of $78.54. The firm has a market capitalization of $24.68 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.95.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Republic Services had a return on equity of 12.11% and a net margin of 13.90%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. As a group, sell-side analysts predict that Republic Services, Inc. will post 3.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 annualized dividend and a dividend yield of 2.00%. Republic Services’s payout ratio is 61.73%.
A number of brokerages recently commented on RSG. BMO Capital Markets upped their price objective on Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a research note on Thursday, August 16th. Stifel Nicolaus increased their price target on Republic Services from $73.00 to $78.00 and gave the stock 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 price target for the company. in a research note on Wednesday, October 24th. Goldman Sachs Group raised Republic Services to a “hold” rating and set a $79.00 price target for the company in a research note on Tuesday. Finally, Oppenheimer reissued a “hold” rating on shares of Republic Services in a research note on Friday, October 26th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Republic Services presently has a consensus rating of “Hold” and a consensus price target of $74.38.
In other news, Director Jennifer M. Kirk acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average price of $72.35 per share, for a total transaction of $108,525.00. Following the completion of the acquisition, the director now directly owns 1,500 shares in the company, valued at approximately $108,525. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.
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Republic Services 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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