Republic Services, Inc. (RSG) Holdings Cut by Public Sector Pension investment Board
Public Sector Pension investment Board lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 50.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,112 shares of the business services provider’s stock after selling 26,300 shares during the quarter. Public Sector Pension investment Board’s holdings in Republic Services were worth $1,664,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Almanack Investment Partners LLC. bought a new stake in Republic Services during the second quarter worth approximately $141,000. Whittier Trust Co. of Nevada Inc. boosted its position in Republic Services by 59.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,078 shares during the period. Acrospire Investment Management LLC bought a new stake in Republic Services during the second quarter worth approximately $191,000. Pinnacle Financial Partners Inc. boosted its position in Republic Services by 1.9% during the second quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock worth $210,000 after purchasing an additional 60 shares during the period. Finally, Burney Co. bought a new stake in Republic Services during the first quarter worth approximately $207,000. 60.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Republic Services, Inc. (NYSE RSG) opened at 66.59 on Thursday. The stock has a 50 day moving average price of $64.99 and a 200 day moving average price of $63.81. Republic Services, Inc. has a 52-week low of $49.18 and a 52-week high of $67.18. The company has a market capitalization of $22.42 billion, a PE ratio of 34.18 and a beta of 0.60.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.345 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, September 29th. Republic Services’s payout ratio is currently 65.64%.
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A number of brokerages have issued reports on RSG. Zacks Investment Research cut Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. BMO Capital Markets upped their target price on Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. Finally, BidaskClub cut Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. 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 company. The company has an average rating of “Hold” and a consensus target price of $71.88.
In other news, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.
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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