Kiwi Wealth Investments Limited Partnership Has $12.70 Million Position in Republic Services, Inc. (RSG)
Kiwi Wealth Investments Limited Partnership increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,208 shares of the business services provider’s stock after purchasing an additional 1,272 shares during the period. Republic Services makes up approximately 1.5% of Kiwi Wealth Investments Limited Partnership’s portfolio, making the stock its 26th largest position. Kiwi Wealth Investments Limited Partnership owned about 0.06% of Republic Services worth $12,697,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Thrivent Financial For Lutherans raised its holdings in Republic Services by 6.4% during the first quarter. Thrivent Financial For Lutherans now owns 8,480 shares of the business services provider’s stock worth $533,000 after purchasing an additional 510 shares in the last quarter. Creative Planning increased its holdings in Republic Services by 12.0% in the second quarter. Creative Planning now owns 12,984 shares of the business services provider’s stock valued at $827,000 after buying an additional 1,392 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Republic Services by 1.1% in the second quarter. Fisher Asset Management LLC now owns 33,525 shares of the business services provider’s stock valued at $2,137,000 after buying an additional 361 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in 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 buying an additional 32,613 shares in the last quarter. Finally, Exane Derivatives purchased a new position in Republic Services in the second quarter valued at about $680,000. 60.98% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Stifel Nicolaus cut shares of Republic Services from a “buy” rating to a “hold” rating and dropped their target price for the company from $76.00 to $70.00 in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. BidaskClub cut shares of Republic Services from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $67.71.
Shares of Republic Services, Inc. (RSG) traded up $0.01 on Wednesday, hitting $63.92. 1,192,300 shares of the stock were exchanged, compared to its average volume of 1,133,835. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54. Republic Services, Inc. has a fifty-two week low of $54.14 and a fifty-two week high of $67.18. The stock has a market cap of $21,360.29, a PE ratio of 26.63, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the company posted $0.62 EPS. The company’s revenue was up 6.5% on a year-over-year basis. equities analysts expect that Republic Services, Inc. will post 2.4 earnings per share for the current year.
Republic Services announced that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.345 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. Republic Services’s dividend payout ratio (DPR) is 58.47%.
In other news, insider Donald W. Slager sold 22,608 shares of the firm’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 of the company’s stock, valued at approximately $16,289,052.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the firm’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 directly 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 three months, insiders have sold 43,187 shares of company stock valued at $2,854,922. Corporate insiders own 0.40% of the company’s stock.
About Republic Services
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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