Princeton Portfolio Strategies Group LLC Sells 417 Shares of Republic Services, Inc. (RSG)
Princeton Portfolio Strategies Group LLC lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,565 shares of the business services provider’s stock after selling 417 shares during the period. Princeton Portfolio Strategies Group LLC’s holdings in Republic Services were worth $1,056,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of RSG. BlackRock Inc. raised its position in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after purchasing an additional 18,401,448 shares in the last quarter. Janus Henderson Group PLC raised its position in Republic Services by 13,584.4% in the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock worth $238,663,000 after purchasing an additional 3,717,509 shares in the last quarter. Vanguard Group Inc. raised its position in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after purchasing an additional 1,086,931 shares in the last quarter. Renaissance Technologies LLC raised its position in Republic Services by 89.0% in the second quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock worth $105,397,000 after purchasing an additional 778,800 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Republic Services in the first quarter worth about $39,751,000. 60.57% of the stock is owned by hedge funds and other institutional investors.
Republic Services, Inc. (NYSE:RSG) traded down 0.82% during mid-day trading on Friday, hitting $63.18. 1,310,948 shares of the stock traded hands. The firm has a market cap of $21.28 billion, a P/E ratio of 32.43 and a beta of 0.60. The firm’s 50-day moving average price is $65.45 and its 200-day moving average price is $64.07. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $67.18.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. On average, equities analysts forecast that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The business 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 yield of 2.18%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio is currently 70.77%.
Several research firms recently issued reports on RSG. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Bank of America Corporation dropped their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets began coverage on shares of Republic Services in a research report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price target for the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.33.
In related news, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now directly owns 246,617 shares in the company, valued at approximately $16,289,052.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the transaction, the executive vice president now owns 8,007 shares of the company’s stock, valued at $528,622.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,187 shares of company stock valued at $2,854,922. 0.40% of the stock is owned by corporate insiders.
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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