Allegis Investment Advisors LLC boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 49.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,060 shares of the business services provider’s stock after buying an additional 2,664 shares during the quarter. Allegis Investment Advisors LLC’s holdings in Republic Services were worth $545,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Patten Group Inc. boosted its stake in Republic Services by 279.6% during the third quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock valued at $327,000 after buying an additional 13,839 shares in the last quarter. Advisory Services Network LLC boosted its stake in Republic Services by 6.3% during the second 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 in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Republic Services by 9.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock valued at $1,230,000 after buying an additional 1,544 shares in the last quarter. Mackenzie Financial Corp bought a new position in Republic Services during the third quarter valued at about $1,897,000. Finally, Macquarie Group Ltd. boosted its position in shares of Republic Services by 1,040.0% in the 2nd quarter. Macquarie Group Ltd. now owns 5,700 shares of the business services provider’s stock valued at $364,000 after purchasing an additional 5,200 shares during the period. 59.31% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on RSG. Zacks Investment Research downgraded Republic Services from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Credit Suisse Group cut their price objective on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets lowered their target price on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Finally, Bank of America raised their target price on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $68.57.
Shares of Republic Services, Inc. (RSG) traded down $0.74 during mid-day trading on Thursday, reaching $63.78. The company had a trading volume of 554,021 shares, compared to its average volume of 1,494,789. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 0.94. The firm has a market cap of $20,959.19, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. Republic Services, Inc. has a twelve month low of $58.60 and a twelve month high of $69.40.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. Republic Services’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. research analysts anticipate that Republic Services, Inc. will post 3.08 EPS for the current 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 given a $0.345 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.38 annualized dividend and a yield of 2.16%. Republic Services’s payout ratio is 36.41%.
Republic Services announced that its board has authorized a share repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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