Republic Services Inc. (RSG) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama increased its position in shares of Republic Services Inc. (NYSE:RSG) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,455 shares of the company’s stock after buying an additional 1,046 shares during the period. Retirement Systems of Alabama owned about 0.07% of Republic Services worth $12,543,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Conning Inc. increased its position in Republic Services by 1.4% in the second quarter. Conning Inc. now owns 7,781 shares of the company’s stock worth $399,000 after buying an additional 110 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Republic Services by 0.3% in the second quarter. Gulf International Bank UK Ltd now owns 72,995 shares of the company’s stock worth $3,745,000 after buying an additional 250 shares during the last quarter. Advisor Partners LLC increased its position in Republic Services by 5.1% in the first quarter. Advisor Partners LLC now owns 5,744 shares of the company’s stock worth $274,000 after buying an additional 277 shares during the last quarter. Sigma Planning Corp increased its position in Republic Services by 4.3% in the second quarter. Sigma Planning Corp now owns 6,861 shares of the company’s stock worth $352,000 after buying an additional 280 shares during the last quarter. Finally, DNB Asset Management AS increased its position in Republic Services by 1.8% in the second quarter. DNB Asset Management AS now owns 22,783 shares of the company’s stock worth $1,169,000 after buying an additional 400 shares during the last quarter. Institutional investors own 61.01% of the company’s stock.
Republic Services Inc. (NYSE:RSG) traded down 0.10% during mid-day trading on Monday, hitting $50.40. 1,146,814 shares of the stock traded hands. Republic Services Inc. has a 52-week low of $41.64 and a 52-week high of $52.92. The firm’s 50-day moving average is $50.71 and its 200 day moving average is $49.52. The firm has a market cap of $17.28 billion, a P/E ratio of 24.22 and a beta of 0.54.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. The company earned $2.35 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Republic Services Inc. will post $2.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be paid a $0.32 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, September 29th. This represents a $1.28 dividend on an annualized basis and a yield of 2.54%. Republic Services’s dividend payout ratio (DPR) is presently 61.84%.
A number of research firms recently issued reports on RSG. Barclays PLC boosted their target price on shares of Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Imperial Capital boosted their target price on shares of Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Macquarie began coverage on shares of Republic Services in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Republic Services currently has an average rating of “Buy” and an average target price of $51.90.
In related news, CAO Brian A. Goebel sold 1,695 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $52.10, for a total value of $88,309.50. Following the completion of the sale, the chief accounting officer now owns 6,391 shares of the company’s stock, valued at $332,971.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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