Glen Harbor Capital Management LLC boosted its holdings in shares of Republic Services (NYSE:RSG) by 34.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,632 shares of the business services provider’s stock after purchasing an additional 8,688 shares during the period. Glen Harbor Capital Management LLC’s holdings in Republic Services were worth $2,227,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new stake in Republic Services during the fourth quarter worth $121,000. Signaturefd LLC bought a new position in shares of Republic Services in the 1st quarter valued at $149,000. Tower Research Capital LLC TRC lifted its stake in shares of Republic Services by 1,070.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock valued at $199,000 after acquiring an additional 2,686 shares during the last quarter. Focused Wealth Management Inc bought a new position in shares of Republic Services in the 4th quarter valued at $199,000. Finally, Welch & Forbes LLC bought a new position in shares of Republic Services in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 60.16% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Argus upgraded Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, May 10th. Oppenheimer reiterated a “hold” rating on shares of Republic Services in a research note on Thursday, May 3rd. Raymond James cut Republic Services from a “strong-buy” rating to a “market perform” rating and set a $72.00 price target for the company. in a research note on Wednesday, April 11th. Finally, UBS cut Republic Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $72.14.
Republic Services opened at $67.71 on Friday, according to Marketbeat. The firm has a market capitalization of $22.17 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.98 and a beta of 0.54. Republic Services has a twelve month low of $60.26 and a twelve month high of $69.40. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.53 and a quick ratio of 0.53.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Republic Services had a return on equity of 11.29% and a net margin of 13.18%. Republic Services’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. sell-side analysts anticipate that Republic Services will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 2nd will be issued a $0.345 dividend. The ex-dividend date of this dividend is Friday, June 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.04%. Republic Services’s payout ratio is 56.79%.
About Republic Services
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; supply of waste containers; and renting of compactors.
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