Chevy Chase Trust Holdings Inc. lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,928 shares of the business services provider’s stock after selling 8,630 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.05% of Republic Services worth $13,001,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. First Hawaiian Bank bought a new stake in Republic Services in the 3rd quarter valued at $119,000. Braun Bostich & Associates Inc. lifted its position in Republic Services by 531.6% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock worth $124,000 after buying an additional 1,531 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Republic Services by 57.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock worth $132,000 after buying an additional 704 shares in the last quarter. Cerebellum GP LLC bought a new stake in Republic Services during the 3rd quarter worth about $186,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Republic Services during the 2nd quarter worth about $178,000. 60.19% of the stock is owned by institutional investors and hedge funds.
In other Republic Services news, Director Jennifer M. Kirk acquired 1,500 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was purchased at an average price of $72.35 per share, with a total value of $108,525.00. Following the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $108,525. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. Equities analysts expect that Republic Services, Inc. will post 3.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Monday, December 31st. Republic Services’s dividend payout ratio is currently 61.73%.
Several brokerages have commented on RSG. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Bank of America boosted their price objective on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. BMO Capital Markets boosted their price objective on shares of Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a research note on Thursday, August 16th. Finally, Oppenheimer reiterated a “hold” rating on shares of Republic Services in a research note on Friday, October 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.71.
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Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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