Pearl River Capital LLC raised its stake in Republic Services, Inc. (NYSE:RSG) by 804.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 814 shares of the business services provider’s stock after acquiring an additional 724 shares during the quarter. Pearl River Capital LLC’s holdings in Republic Services were worth $71,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. First Bank & Trust acquired a new position in shares of Republic Services in the second quarter worth $35,000. Gemmer Asset Management LLC raised its holdings in shares of Republic Services by 140.2% in the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after acquiring an additional 265 shares during the last quarter. Glassman Wealth Services raised its holdings in shares of Republic Services by 44.9% in the first quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock worth $41,000 after acquiring an additional 157 shares during the last quarter. Motco acquired a new position in shares of Republic Services in the second quarter worth $62,000. Finally, Knuff & Co LLC raised its holdings in shares of Republic Services by 966.7% in the first quarter. Knuff & Co LLC now owns 800 shares of the business services provider’s stock worth $64,000 after acquiring an additional 725 shares during the last quarter. 59.64% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on RSG shares. JPMorgan Chase & Co. started coverage on Republic Services in a research report on Wednesday, August 7th. They issued a “neutral” rating and a $94.00 price objective for the company. Royal Bank of Canada set a $91.00 price objective on Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Raymond James set a $93.00 price objective on Republic Services and gave the company an “outperform” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.67.
In other Republic Services news, EVP Catharine D. Ellingsen sold 3,100 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now owns 14,307 shares in the company, valued at $1,287,630. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.
Shares of NYSE:RSG traded up $0.02 during midday trading on Wednesday, reaching $89.69. The company’s stock had a trading volume of 35,196 shares, compared to its average volume of 1,014,893. The firm has a market cap of $28.63 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 3.04 and a beta of 0.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.87. Republic Services, Inc. has a 1 year low of $67.48 and a 1 year high of $90.61. The business has a 50 day moving average price of $88.80 and a 200 day moving average price of $83.89.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Republic Services’s previous quarterly dividend of $0.38. Republic Services’s payout ratio is currently 48.54%.
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
Featured Article: What do I need to know about analyst ratings?
Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.