Raymond James Financial Services Advisors Inc. Grows Position in Republic Services, Inc. (RSG)
Raymond James Financial Services Advisors Inc. increased its position in Republic Services, Inc. (NYSE:RSG) by 23.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,884 shares of the business services provider’s stock after buying an additional 18,915 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Republic Services were worth $6,532,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Evercore Wealth Management LLC increased its holdings in 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 buying an additional 521 shares during the last quarter. Sun Life Financial INC increased its holdings in Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after buying an additional 1,672 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in Republic Services in the second quarter worth approximately $141,000. Acrospire Investment Management LLC acquired a new position in Republic Services in the second quarter worth approximately $191,000. Finally, Pinnacle Financial Partners Inc. increased its holdings in Republic Services by 1.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock worth $210,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.
RSG has been the topic of a number of research reports. BMO Capital Markets restated a “buy” rating and issued a $72.00 price objective on shares of Republic Services in a report on Friday, October 13th. Bank of America Corporation dropped their price objective on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Republic Services in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.71.
In other news, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald W. Slager sold 32,421 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total value of $2,074,944.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,608 shares of company stock worth $4,929,866. Corporate insiders own 0.40% of the company’s stock.
Republic Services, Inc. (NYSE:RSG) opened at $62.66 on Tuesday. Republic Services, Inc. has a twelve month low of $54.82 and a twelve month high of $67.18. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $20,870.00, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.62.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. equities research analysts forecast that Republic Services, Inc. will post 2.4 EPS for the current year.
Republic Services announced that its board has authorized a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. The ex-dividend date is Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.20%. Republic Services’s dividend payout ratio (DPR) is presently 58.47%.
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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