Insider Selling: Republic Services Inc. (RSG) Insider Sells 26,000 Shares of Stock
Republic Services Inc. (NYSE:RSG) insider Donald W. Slager sold 26,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $50.37, for a total transaction of $1,309,620.00. Following the transaction, the insider now owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Republic Services Inc. (NYSE:RSG) opened at 49.92 on Wednesday. The company’s 50-day moving average is $50.67 and its 200-day moving average is $49.53. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 23.99 and a beta of 0.54. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $52.92.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The business earned $2.35 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $0.54 EPS. Republic Services’s revenue was up 1.7% compared to the same quarter last year. On average, analysts expect that Republic Services Inc. will post $2.16 earnings per share 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 given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.28 annualized dividend and a yield of 2.56%. This is an increase from Republic Services’s previous quarterly dividend of $0.30. Republic Services’s dividend payout ratio (DPR) is presently 61.84%.
Hedge funds have recently bought and sold shares of the stock. Washington Trust Bank increased its stake in Republic Services by 11,620.3% in the third quarter. Washington Trust Bank now owns 80,870 shares of the company’s stock valued at $4,080,000 after buying an additional 80,180 shares during the last quarter. Carnick & Kubik Group LLC acquired a new stake in Republic Services during the second quarter valued at about $546,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Republic Services during the second quarter valued at about $492,000. Kentucky Retirement Systems acquired a new stake in Republic Services during the second quarter valued at about $1,035,000. Finally, Mason Street Advisors LLC acquired a new stake in Republic Services during the second quarter valued at about $1,640,000. 61.01% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on RSG shares. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, June 29th. Macquarie started coverage on shares of Republic Services in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price target on the stock. Imperial Capital upped their price target on shares of Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Barclays PLC upped their price target on shares of Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.90.
Republic Services Company Profile
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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