First Quadrant L P CA lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,718 shares of the business services provider’s stock after selling 73,916 shares during the period. First Quadrant L P CA owned approximately 0.07% of Republic Services worth $16,628,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of RSG. Advisory Services Network LLC boosted its position in Republic Services by 6.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after buying an additional 223 shares during the period. Capital Fund Management S.A. bought a new position in shares of Republic Services in the 2nd quarter worth about $12,536,000. Royal Bank of Canada increased its stake in shares of Republic Services by 11.0% in the 2nd quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock worth $78,399,000 after acquiring an additional 121,632 shares in the last quarter. Dearborn Partners LLC increased its stake in shares of Republic Services by 3.4% in the 2nd quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock worth $28,746,000 after acquiring an additional 14,701 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Republic Services by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after acquiring an additional 418,797 shares in the last quarter. 60.98% of the stock is currently owned by institutional investors.
Shares of Republic Services, Inc. (RSG) traded up $0.46 on Tuesday, reaching $63.91. 768,800 shares of the company traded hands, compared to its average volume of 1,133,568. Republic Services, Inc. has a 12 month low of $53.30 and a 12 month high of $67.18. The company has a market capitalization of $21,206.55, a PE ratio of 26.44, a PEG ratio of 3.12 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. analysts anticipate that Republic Services, Inc. will post 2.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other Republic Services news, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total value of $940,785.00. Following the sale, the executive vice president now owns 8,007 shares in the company, valued at approximately $528,622.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.05, for a total value of $1,493,258.40. Following the completion of the sale, the insider now directly owns 246,617 shares of the company’s stock, valued at $16,289,052.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,187 shares of company stock valued at $2,854,922. 0.40% of the stock is owned by insiders.
A number of research firms have weighed in on RSG. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Bank of America Corporation dropped their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, Credit Suisse Group AG set a $69.00 price objective on shares of Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Republic Services has a consensus rating of “Hold” and an average price target of $67.71.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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