Republic Services, Inc. (RSG) Stake Reduced by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL decreased its stake in Republic Services, Inc. (NYSE:RSG) by 4.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,642,022 shares of the business services provider’s stock after selling 121,780 shares during the period. Republic Services comprises approximately 1.1% of Gamco Investors INC. ET AL’s portfolio, making the stock its 17th largest position. Gamco Investors INC. ET AL owned 0.78% of Republic Services worth $165,945,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of RSG. Cribstone Capital Management LLC bought a new position in shares of Republic Services during the first quarter worth about $121,000. Parallel Advisors LLC bought a new position in shares of Republic Services during the fourth quarter worth about $120,000. M&R Capital Management Inc. raised its stake in Republic Services by 120.0% in the fourth quarter. M&R Capital Management Inc. now owns 2,200 shares of the business services provider’s stock worth $125,000 after buying an additional 1,200 shares during the period. TLP Group LLC acquired a new stake in Republic Services during the third quarter worth approximately $125,000. Finally, Independent Advisor Alliance acquired a new stake in Republic Services during the fourth quarter worth approximately $173,000. 61.75% of the stock is owned by hedge funds and other institutional investors.
Republic Services, Inc. (RSG) traded down 0.08% during trading on Friday, reaching $64.81. The company had a trading volume of 1,407,535 shares. Republic Services, Inc. has a one year low of $48.67 and a one year high of $65.04. The company has a 50-day moving average price of $63.27 and a 200 day moving average price of $60.58. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 34.47 and a beta of 0.57.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 27th. The business services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Republic Services had a net margin of 6.75% and a return on equity of 10.18%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. Analysts expect that Republic Services, Inc. will post $2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Monday, July 3rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, June 29th. Republic Services’s dividend payout ratio (DPR) is presently 68.45%.
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A number of research analysts have commented on the company. Barclays PLC reiterated a “hold” rating and issued a $59.00 price objective on shares of Republic Services in a research report on Friday, April 28th. Wedbush increased their price objective on Republic Services from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, March 30th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, June 7th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Republic Services in a research report on Friday, February 17th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Republic Services has an average rating of “Hold” and an average price target of $66.56.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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