Republic Services, Inc. (RSG) Shares Bought by Sun Life Financial INC
Sun Life Financial INC increased its stake in Republic Services, Inc. (NYSE:RSG) by 20,900.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,680 shares of the business services provider’s stock after purchasing an additional 1,672 shares during the period. Sun Life Financial INC’s holdings in Republic Services were worth $107,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of RSG. Evercore Wealth Management LLC increased its position in shares of Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after purchasing an additional 521 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Republic Services in the second quarter worth approximately $141,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Republic Services by 59.1% in 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 last quarter. Acrospire Investment Management LLC bought a new position in shares of Republic Services in the second quarter worth approximately $191,000. Finally, Burney Co. bought a new position in shares of Republic Services in the first quarter worth approximately $207,000. Institutional investors own 60.57% of the company’s stock.
In other Republic Services news, insider Donald W. Slager sold 22,608 shares of Republic Services stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.05, for a total value of $1,493,258.40. Following the sale, the insider now owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Catharine D. Ellingsen sold 14,250 shares of Republic Services stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total value of $940,785.00. Following the completion of the sale, the executive vice president now directly owns 8,007 shares in the company, valued at approximately $528,622.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,187 shares of company stock worth $2,854,922. Corporate insiders own 0.40% of the company’s stock.
Shares of Republic Services, Inc. (RSG) opened at 63.3518 on Thursday. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 32.5215 and a beta of 0.60. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $67.18. The firm has a 50-day moving average price of $65.51 and a 200 day moving average price of $64.07.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business 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 posted $0.55 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.345 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.18%. Republic Services’s payout ratio is presently 70.77%.
Several research analysts recently weighed in on RSG shares. BidaskClub cut shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Barclays PLC reaffirmed a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Zacks Investment Research raised 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. 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 note on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $71.50.
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.
Receive News & Stock Ratings for Republic Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services Inc. and related stocks with our FREE daily email newsletter.