Alliancebernstein L.P. Grows Holdings in Republic Services, Inc. (RSG)
Alliancebernstein L.P. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 27.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 800,860 shares of the business services provider’s stock after buying an additional 174,844 shares during the quarter. Alliancebernstein L.P. owned 0.24% of Republic Services worth $51,039,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Dynamic Capital Management Ltd purchased a new position in shares of Republic Services in the first quarter valued at $1,947,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of 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 purchasing an additional 680 shares during the period. Dearborn Partners LLC boosted its stake in shares of Republic Services by 3.4% in the second quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock valued at $28,746,000 after purchasing an additional 14,701 shares during the period. National Pension Service boosted its stake in shares of Republic Services by 10.0% in the second quarter. National Pension Service now owns 230,609 shares of the business services provider’s stock valued at $14,581,000 after purchasing an additional 20,892 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Republic Services by 513.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 38,960 shares of the business services provider’s stock valued at $2,483,000 after purchasing an additional 32,613 shares during the period. Institutional investors and hedge funds own 60.59% of the company’s stock.
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Shares of Republic Services, Inc. (RSG) opened at 66.89 on Friday. The firm’s 50 day moving average is $64.84 and its 200-day moving average is $63.72. Republic Services, Inc. has a one year low of $49.18 and a one year high of $66.93. The firm has a market capitalization of $22.53 billion, a PE ratio of 34.34 and a beta of 0.60.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.345 per share. The ex-dividend date is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.06%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s payout ratio is currently 65.64%.
Several research analysts have recently weighed in on RSG shares. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, July 14th. KeyCorp restated a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. BMO Capital Markets started coverage on shares of Republic Services in a research note on Thursday, June 29th. They issued an “outperform” rating and a $71.00 target price for the company. Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. Finally, Barclays PLC restated a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.88.
In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the sale, the executive vice president now owns 428 shares in the company, valued at $28,462. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by insiders.
Republic Services 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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