Exxonmobil Investment Management Inc. TX lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,137 shares of the business services provider’s stock after selling 5,681 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Republic Services were worth $2,443,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Evercore Wealth Management LLC raised its holdings in shares of Republic Services by 48.6% during the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after acquiring an additional 521 shares during the period. Sun Life Financial INC raised its holdings in shares of Republic Services by 20,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after acquiring an additional 1,672 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Republic Services during the 2nd quarter worth $191,000. Cetera Investment Advisers purchased a new position in shares of Republic Services during the 2nd quarter worth $211,000. Finally, Bahl & Gaynor Inc. purchased a new position in shares of Republic Services during the 2nd quarter worth $214,000. Institutional investors and hedge funds own 59.90% of the company’s stock.
RSG has been the topic of several analyst reports. Bank of America reduced their price target on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Credit Suisse Group reduced their price target on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 6th. Stifel Nicolaus lowered Republic Services from a “buy” rating to a “hold” rating and reduced their price target for the stock from $76.00 to $70.00 in a report on Wednesday, October 4th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, BMO Capital Markets reduced their price target on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $68.14.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. Republic Services’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. equities analysts predict that Republic Services, Inc. will post 2.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a $0.345 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.02%. Republic Services’s dividend payout ratio (DPR) is currently 58.47%.
Republic Services declared that its board has authorized a stock repurchase plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, CAO Brian A. Goebel sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $67.88, for a total value of $135,760.00. Following the sale, the chief accounting officer now directly owns 6,696 shares in the company, valued at approximately $454,524.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald W. Slager sold 32,421 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total transaction of $2,074,944.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,553 shares of company stock worth $8,644,937. 0.40% of the stock is owned by insiders.
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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