IFP Advisors Inc trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,046 shares of the business services provider’s stock after selling 1,549 shares during the quarter. IFP Advisors Inc’s holdings in Republic Services were worth $206,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial For Lutherans grew its holdings in shares of Republic Services by 2.6% during the second quarter. Thrivent Financial For Lutherans now owns 8,700 shares of the business services provider’s stock valued at $554,000 after purchasing an additional 220 shares during the last quarter. First Allied Advisory Services Inc. acquired a new position in shares of Republic Services during the second quarter worth approximately $224,000. Tudor Investment Corp ET AL acquired a new position in shares of Republic Services during the second quarter worth approximately $425,000. Macquarie Group Ltd. boosted its position in shares of Republic Services by 1,040.0% during the second quarter. Macquarie Group Ltd. now owns 5,700 shares of the business services provider’s stock worth $364,000 after buying an additional 5,200 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Republic Services by 30.6% during the second quarter. Cubist Systematic Strategies LLC now owns 19,091 shares of the business services provider’s stock worth $1,217,000 after buying an additional 4,474 shares during the period. 59.31% of the stock is owned by hedge funds and other institutional investors.
RSG has been the subject of a number of research analyst reports. Credit Suisse Group cut their price objective on Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Monday, January 22nd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. BMO Capital Markets dropped their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. Finally, Bank of America upped their price objective on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.57.
Republic Services, Inc. (RSG) traded down $0.66 during trading hours on Thursday, reaching $63.86. 838,654 shares of the company traded hands, compared to its average volume of 1,515,925. The firm has a market capitalization of $20,959.19, a price-to-earnings ratio of 16.93, a PEG ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.51. Republic Services, Inc. has a 52-week low of $58.60 and a 52-week high of $69.40.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. Republic Services’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. equities research analysts expect that Republic Services, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a $0.345 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.16%. Republic Services’s payout ratio is presently 36.41%.
Republic Services declared that its board has authorized a stock repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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About Republic Services
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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