Zacks Investment Management Has $10,396,000 Position in Republic Services Inc. (RSG)
Zacks Investment Management cut its stake in shares of Republic Services Inc. (NYSE:RSG) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,619 shares of the company’s stock after selling 2,040 shares during the period. Zacks Investment Management owned about 0.06% of Republic Services worth $10,396,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of RSG. BlackRock Fund Advisors increased its position in shares of Republic Services by 21.9% in the second quarter. BlackRock Fund Advisors now owns 7,074,214 shares of the company’s stock valued at $362,978,000 after buying an additional 1,270,660 shares during the period. Bank of Montreal Can acquired a new position in shares of Republic Services during the second quarter valued at $46,588,000. JPMorgan Chase & Co. increased its position in shares of Republic Services by 19.1% in the second quarter. JPMorgan Chase & Co. now owns 4,423,451 shares of the company’s stock valued at $226,969,000 after buying an additional 708,511 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Republic Services during the second quarter valued at $29,687,000. Finally, Vanguard Group Inc. increased its position in shares of Republic Services by 3.0% in the second quarter. Vanguard Group Inc. now owns 17,055,617 shares of the company’s stock valued at $875,123,000 after buying an additional 502,791 shares during the period. Institutional investors own 61.01% of the company’s stock.
Republic Services Inc. (NYSE:RSG) traded up 1.46% during trading on Friday, reaching $53.67. 1,661,623 shares of the company’s stock were exchanged. Republic Services Inc. has a 1-year low of $41.82 and a 1-year high of $53.75. The company’s 50-day moving average is $50.79 and its 200-day moving average is $50.28. The company has a market capitalization of $18.25 billion, a PE ratio of 31.20 and a beta of 0.61.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Republic Services had a net margin of 6.40% and a return on equity of 9.62%. The firm earned $2.41 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Equities research analysts expect that Republic Services Inc. will post $2.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Tuesday, January 3rd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, December 29th. Republic Services’s dividend payout ratio is 74.85%.
RSG has been the subject of several analyst reports. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, September 28th. Deutsche Bank AG downgraded Republic Services from a “buy” rating to a “hold” rating and upped their price objective for the stock from $108.00 to $112.00 in a report on Saturday, October 22nd. Imperial Capital upped their price objective on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Macquarie started coverage on Republic Services in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Barclays PLC upped their price objective on Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.91.
In other Republic Services news, insider Donald W. Slager sold 26,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total value of $1,309,620.00. Following the completion of the sale, the insider now owns 234,397 shares in the company, valued at approximately $11,806,576.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald W. Slager sold 164,628 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $52.00, for a total transaction of $8,560,656.00. Following the completion of the sale, the insider now owns 257,367 shares of the company’s stock, valued at approximately $13,383,084. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.
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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