DekaBank Deutsche Girozentrale Has $18.60 Million Holdings in Republic Services, Inc. (RSG)
DekaBank Deutsche Girozentrale raised its position in Republic Services, Inc. (NYSE:RSG) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 286,776 shares of the business services provider’s stock after buying an additional 28,286 shares during the period. DekaBank Deutsche Girozentrale owned 0.09% of Republic Services worth $18,601,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after buying an additional 223 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of Republic Services during the 2nd quarter valued at approximately $12,536,000. Royal Bank of Canada grew its position in shares of Republic Services by 11.0% during the 2nd quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock valued at $78,399,000 after acquiring an additional 121,632 shares during the period. Dearborn Partners LLC grew its position in shares of Republic Services by 3.4% during the 2nd quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock valued at $28,746,000 after acquiring an additional 14,701 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Republic Services by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after acquiring an additional 418,797 shares during the period. Hedge funds and other institutional investors own 60.98% of the company’s stock.
Republic Services, Inc. (NYSE:RSG) traded down $0.78 on Thursday, reaching $63.14. 1,266,800 shares of the company traded hands, compared to its average volume of 1,134,437. The company has a market cap of $21,363.63, a P/E ratio of 26.63, a PEG ratio of 3.15 and a beta of 0.61. Republic Services, Inc. has a 52 week low of $54.37 and a 52 week high of $67.18. 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 (NYSE:RSG) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. equities analysts anticipate that Republic Services, Inc. will post 2.4 earnings per share for the current year.
Republic Services declared that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is presently 58.47%.
In related 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 value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of 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 ninety days, insiders sold 43,187 shares of company stock valued at $2,854,922. 0.40% of the stock is owned by insiders.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America Corporation reduced their target price 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, October 5th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.71.
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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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