SlateStone Wealth LLC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,414 shares of the business services provider’s stock after selling 596 shares during the quarter. SlateStone Wealth LLC’s holdings in Republic Services were worth $1,249,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Bank & Trust acquired a new stake in shares of Republic Services during the second quarter worth $35,000. Gemmer Asset Management LLC lifted its holdings in shares of Republic Services by 140.2% during the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after purchasing an additional 265 shares during the period. CWM LLC lifted its holdings in Republic Services by 109.9% in the first quarter. CWM LLC now owns 468 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 245 shares during the period. Duncker Streett & Co. Inc. acquired a new stake in Republic Services in the first quarter valued at $40,000. Finally, Glassman Wealth Services lifted its holdings in Republic Services by 44.9% in the first quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 157 shares during the period. 59.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on RSG shares. Bank of America reissued a “neutral” rating and issued a $85.00 target price (up previously from $79.00) on shares of Republic Services in a report on Friday, April 26th. JPMorgan Chase & Co. started coverage on Republic Services in a report on Wednesday, August 7th. They issued a “neutral” rating and a $94.00 target price for the company. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a report on Monday, April 29th. Raymond James set a $93.00 target price on Republic Services and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Republic Services has a consensus rating of “Hold” and an average target price of $84.67.
Shares of NYSE:RSG traded up $0.21 during midday trading on Wednesday, hitting $89.21. 26,134 shares of the stock were exchanged, compared to its average volume of 1,158,962. The stock has a market cap of $28.84 billion, a P/E ratio of 28.86, a PEG ratio of 3.07 and a beta of 0.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.87. Republic Services, Inc. has a twelve month low of $67.48 and a twelve month high of $90.61. The company has a 50 day moving average price of $88.37 and a 200-day moving average price of $83.08.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.62 billion. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 3.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, September 30th. This is an increase from Republic Services’s previous quarterly dividend of $0.38. Republic Services’s payout ratio is 48.54%.
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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