Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,889 shares of the business services provider’s stock after buying an additional 3,966 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Republic Services were worth $6,309,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Trexquant Investment LP purchased a new position in shares of Republic Services in the second quarter worth approximately $946,000. MONECO Advisors LLC purchased a new stake in Republic Services during the second quarter valued at approximately $640,000. Sawtooth Solutions LLC lifted its position in Republic Services by 28.1% in the second quarter. Sawtooth Solutions LLC now owns 15,115 shares of the business services provider’s stock worth $1,240,000 after buying an additional 3,317 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Republic Services by 7.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 42,827 shares of the business services provider’s stock worth $3,215,000 after acquiring an additional 2,920 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Republic Services by 9.8% during the 1st quarter. Clearbridge Investments LLC now owns 70,203 shares of the business services provider’s stock worth $5,269,000 after purchasing an additional 6,285 shares during the period. Hedge funds and other institutional investors own 57.21% of the company’s stock.
Several brokerages have issued reports on RSG. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Monday, July 20th. Argus upped their target price on Republic Services from $95.00 to $102.00 in a research note on Thursday. Robert W. Baird initiated coverage on Republic Services in a research note on Thursday, May 28th. They set an “outperform” rating and a $90.00 target price on the stock. Deutsche Bank cut their target price on Republic Services from $102.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Finally, Royal Bank of Canada upped their target price on Republic Services from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $91.07.
In other Republic Services news, CEO Donald W. Slager sold 1,275 shares of Republic Services stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $91.02, for a total transaction of $116,050.50. Following the completion of the sale, the chief executive officer now directly owns 343,554 shares in the company, valued at approximately $31,270,285.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Donald W. Slager sold 80,439 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.63, for a total transaction of $7,370,625.57. Following the completion of the sale, the chief executive officer now directly owns 370,708 shares in the company, valued at $33,967,974.04. The disclosure for this sale can be found here. Insiders have sold 135,648 shares of company stock worth $12,345,876 over the last three months. Corporate insiders own 0.20% of the company’s stock.
NYSE RSG traded up $0.05 during trading on Monday, reaching $92.97. 15,616 shares of the company’s stock traded hands, compared to its average volume of 1,347,486. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $29.59 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.73 and a beta of 0.62. The company’s 50 day simple moving average is $87.00 and its two-hundred day simple moving average is $84.62. Republic Services, Inc. has a 12-month low of $65.37 and a 12-month high of $100.91.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.21. Republic Services had a net margin of 10.35% and a return on equity of 13.41%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts expect that Republic Services, Inc. will post 3.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.425 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, September 30th. Republic Services’s payout ratio is presently 48.50%.
Republic Services Profile
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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