Duality Advisers LP Makes New $1.77 Million Investment in Republic Services, Inc. (NYSE:RSG)

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Duality Advisers LP bought a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 21,563 shares of the business services provider’s stock, valued at approximately $1,769,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Advisors Investment Management LLC bought a new stake in Republic Services during the second quarter worth $25,000. Endurance Wealth Management Inc. lifted its stake in Republic Services by 317.1% during the first quarter. Endurance Wealth Management Inc. now owns 438 shares of the business services provider’s stock worth $33,000 after purchasing an additional 333 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in Republic Services during the second quarter worth $41,000. Eudaimonia Partners LLC bought a new stake in Republic Services during the first quarter worth $47,000. Finally, Harbor Investment Advisory LLC bought a new stake in Republic Services during the first quarter worth $48,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

Several equities research analysts have weighed in on RSG shares. Jefferies Financial Group cut Republic Services from a “buy” rating to a “hold” rating and cut their target price for the stock from $83.00 to $81.00 in a research note on Tuesday, April 14th. Oppenheimer lowered their target price on Republic Services from $109.00 to $89.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. UBS Group decreased their price target on Republic Services from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Monday, July 20th. Finally, Royal Bank of Canada increased their price target on Republic Services from $77.00 to $81.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Republic Services has a consensus rating of “Buy” and a consensus target price of $89.77.

Shares of RSG opened at $87.25 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50-day moving average of $82.67 and a 200-day moving average of $85.20. The company has a market cap of $27.77 billion, a PE ratio of 25.81, a P/E/G ratio of 4.56 and a beta of 0.62. Republic Services, Inc. has a one year low of $65.37 and a one year high of $100.91.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, May 5th. The business services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.53 billion. Republic Services had a return on equity of 13.47% and a net margin of 10.45%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. Analysts expect that Republic Services, Inc. will post 2.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.425 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.70 dividend on an annualized basis and a yield of 1.95%. This is an increase from Republic Services’s previous quarterly dividend of $0.41. Republic Services’s payout ratio is 48.50%.

In other Republic Services news, Director Tomago Collins sold 4,940 shares of Republic Services stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $81.58, for a total transaction of $403,005.20. Following the completion of the transaction, the director now owns 9,879 shares in the company, valued at approximately $805,928.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles F. Serianni sold 1,500 shares of Republic Services stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $81.53, for a total value of $122,295.00. Following the transaction, the chief financial officer now owns 44,156 shares of the company’s stock, valued at approximately $3,600,038.68. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Republic Services Company 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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

Read More: What is a Real Estate Investment Trust (REIT)?

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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