Three Peaks Capital Management LLC Has $15.84 Million Position in Republic Services, Inc. (RSG)
Three Peaks Capital Management LLC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,592 shares of the business services provider’s stock after selling 55,095 shares during the period. Republic Services makes up approximately 2.3% of Three Peaks Capital Management LLC’s portfolio, making the stock its 3rd largest position. Three Peaks Capital Management LLC owned about 0.07% of Republic Services worth $15,843,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Dynamic Capital Management Ltd bought a new position in Republic Services during the first quarter valued at about $1,947,000. Meiji Yasuda Asset Management Co Ltd. increased its position in Republic Services by 1.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 47,622 shares of the business services provider’s stock valued at $2,991,000 after buying an additional 680 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in Republic Services by 4.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 30,440 shares of the business services provider’s stock valued at $1,912,000 after buying an additional 1,261 shares in the last quarter. Elkhorn Investments LLC bought a new position in Republic Services during the first quarter valued at about $1,635,000. Finally, Swiss National Bank increased its position in Republic Services by 12.3% in the first quarter. Swiss National Bank now owns 1,841,048 shares of the business services provider’s stock valued at $115,636,000 after buying an additional 202,300 shares in the last quarter. Institutional investors own 61.33% of the company’s stock.
Shares of Republic Services, Inc. (NYSE:RSG) traded down 0.05% during midday trading on Friday, hitting $64.10. 103,326 shares of the stock traded hands. The firm has a 50-day moving average price of $64.41 and a 200 day moving average price of $62.83. The stock has a market cap of $21.59 billion, a price-to-earnings ratio of 32.91 and a beta of 0.58. Republic Services, Inc. has a one year low of $49.18 and a one year high of $65.54.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is currently 65.64%.
RSG has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, May 2nd. Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. BMO Capital Markets initiated coverage on shares of Republic Services in a research note on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price objective for the company. Barclays PLC restated a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.78.
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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