Republic Services, Inc. (RSG) Shares Sold by Peak Asset Management LLC
Peak Asset Management LLC cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,003 shares of the business services provider’s stock after selling 40 shares during the period. Peak Asset Management LLC’s holdings in Republic Services were worth $1,445,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $120,000. Cribstone Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter worth approximately $121,000. Independent Advisor Alliance purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $173,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Republic Services during the first quarter worth approximately $203,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Republic Services during the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 61.75% of the company’s stock.
Republic Services, Inc. (RSG) traded up 0.46% during midday trading on Monday, reaching $65.11. The company’s stock had a trading volume of 557,221 shares. The firm has a market cap of $22.01 billion, a P/E ratio of 34.63 and a beta of 0.57. Republic Services, Inc. has a 52-week low of $48.67 and a 52-week high of $65.34. The firm has a 50 day moving average of $63.27 and a 200 day moving average of $60.58.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Republic Services had a return on equity of 10.18% and a net margin of 6.75%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned $0.48 EPS. Republic Services’s revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, June 29th. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. Republic Services’s dividend payout ratio is presently 68.45%.
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A number of equities analysts have issued reports on the company. Zacks Investment Research cut Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Credit Suisse Group set a $63.00 target price on Republic Services and gave the stock a “hold” rating in a report on Sunday, April 30th. Finally, Wedbush raised their target price on Republic Services from $61.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, February 21st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Republic Services has an average rating of “Hold” and a consensus price target of $66.56.
About Republic Services
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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