Toronto Dominion Bank lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,019 shares of the business services provider’s stock after selling 13,911 shares during the quarter. Toronto Dominion Bank’s holdings in Republic Services were worth $11,781,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Bank & Trust acquired a new stake in Republic Services during the second quarter worth $35,000. Gemmer Asset Management LLC boosted its stake in Republic Services by 140.2% during the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after buying an additional 265 shares in the last quarter. Glassman Wealth Services boosted its stake in Republic Services by 44.9% during the first quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock worth $41,000 after buying an additional 157 shares in the last quarter. Motco acquired a new stake in Republic Services during the second quarter worth $62,000. Finally, Knuff & Co LLC boosted its stake in Republic Services by 966.7% during the first quarter. Knuff & Co LLC now owns 800 shares of the business services provider’s stock worth $64,000 after buying an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 59.64% of the company’s stock.
RSG has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Republic Services in a research note on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price target on the stock. Raymond James set a $93.00 price target on shares of Republic Services and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the stock a “hold” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $84.67.
Shares of NYSE:RSG traded down $0.78 on Friday, hitting $85.14. The stock had a trading volume of 1,138,651 shares, compared to its average volume of 959,751. Republic Services, Inc. has a twelve month low of $67.48 and a twelve month high of $90.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.41 and a current ratio of 0.41. The firm’s 50 day moving average price is $88.86 and its 200-day moving average price is $84.35. The company has a market capitalization of $27.31 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.90 and a beta of 0.50.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Republic Services, Inc. will post 3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, September 30th. This is an increase from Republic Services’s previous quarterly dividend of $0.38. Republic Services’s payout ratio is currently 48.54%.
In other news, CEO Donald W. Slager sold 95,126 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $90.00, for a total value of $8,561,340.00. Following the sale, the chief executive officer now owns 382,736 shares in the company, valued at approximately $34,446,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Catharine D. Ellingsen sold 3,100 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now owns 14,307 shares in the company, valued at approximately $1,287,630. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock worth $13,240,530 in the last 90 days. 0.30% of the stock is owned by corporate insiders.
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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