Parisi Gray Wealth Management acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 600 shares of the business services provider’s stock, valued at approximately $66,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. BlackRock Inc. raised its position in Republic Services by 4.0% in the second quarter. BlackRock Inc. now owns 20,712,888 shares of the business services provider’s stock worth $2,278,625,000 after acquiring an additional 792,584 shares during the period. Vanguard Group Inc. grew its stake in Republic Services by 1.0% during the second quarter. Vanguard Group Inc. now owns 18,249,924 shares of the business services provider’s stock valued at $2,007,674,000 after acquiring an additional 181,319 shares in the last quarter. Nordea Investment Management AB grew its stake in Republic Services by 147.2% in the 1st quarter. Nordea Investment Management AB now owns 5,033,908 shares of the business services provider’s stock worth $499,062,000 after buying an additional 2,997,759 shares in the last quarter. Geode Capital Management LLC grew its stake in Republic Services by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,316,392 shares of the business services provider’s stock worth $473,704,000 after buying an additional 264,444 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Republic Services by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,936,747 shares of the business services provider’s stock worth $433,068,000 after buying an additional 23,126 shares in the last quarter. 57.60% of the stock is currently owned by institutional investors.
Shares of Republic Services stock opened at $126.55 on Thursday. The business has a 50-day moving average of $122.85 and a 200 day moving average of $113.91. Republic Services, Inc. has a 12 month low of $86.18 and a 12 month high of $127.60. The stock has a market capitalization of $40.29 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.64 and a quick ratio of 0.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, September 30th. This is a positive change from Republic Services’s previous quarterly dividend of $0.43. Republic Services’s dividend payout ratio (DPR) is 51.69%.
Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating and set a $128.00 price objective for the company. in a report on Wednesday, September 29th. BMO Capital Markets raised their target price on shares of Republic Services from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Royal Bank of Canada lifted their price objective on shares of Republic Services from $111.00 to $118.00 and gave the stock a “sector perform” rating in a research note on Friday, July 30th. They noted that the move was a valuation call. The Goldman Sachs Group raised shares of Republic Services from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, August 24th. Finally, Raymond James reiterated an “outperform” rating and issued a $116.14 target price (down from $117.00) on shares of Republic Services in a report on Monday, July 26th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $116.18.
About Republic Services
Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.
Featured Story: Commodities
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.