King Luther Capital Management Corp lowered its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 1.3% in the second quarter, Holdings Channel.com reports. The fund owned 53,942 shares of the business services provider’s stock after selling 738 shares during the period. King Luther Capital Management Corp’s holdings in Republic Services were worth $8,262,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Republic Services by 87,079.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 169,300,747 shares of the business services provider’s stock worth $25,931,795,000 after acquiring an additional 169,106,550 shares during the period. Vanguard Group Inc. lifted its position in shares of Republic Services by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock worth $2,358,621,000 after buying an additional 168,696 shares during the period. Pictet Asset Management SA lifted its position in shares of Republic Services by 10.1% during the 1st quarter. Pictet Asset Management SA now owns 8,078,135 shares of the business services provider’s stock worth $1,092,325,000 after buying an additional 738,378 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Republic Services by 40.8% during the 1st quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock worth $835,731,000 after buying an additional 1,791,149 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Republic Services by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 4,472,223 shares of the business services provider’s stock worth $603,465,000 after buying an additional 46,736 shares during the period. Institutional investors own 57.23% of the company’s stock.
Analyst Ratings Changes
RSG has been the subject of several analyst reports. Citigroup raised their target price on Republic Services from $177.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Truist Financial lifted their price objective on Republic Services from $146.00 to $155.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. UBS Group upgraded Republic Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $155.00 to $175.00 in a research report on Monday, October 23rd. Morgan Stanley lifted their price objective on Republic Services from $158.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, August 1st. Finally, Oppenheimer lifted their price objective on Republic Services from $159.00 to $161.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $160.36.
Republic Services Trading Up 0.5 %
Shares of NYSE RSG opened at $159.50 on Tuesday. Republic Services, Inc. has a fifty-two week low of $120.58 and a fifty-two week high of $160.04. The firm has a market capitalization of $50.19 billion, a P/E ratio of 30.85, a P/E/G ratio of 2.91 and a beta of 0.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50 day simple moving average is $149.11 and its 200 day simple moving average is $147.87.
Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Republic Services, Inc. will post 5.47 EPS for the current year.
Republic Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.14 annualized dividend and a dividend yield of 1.34%. Republic Services’s payout ratio is currently 41.39%.
Republic Services declared that its board has authorized a stock repurchase program on Thursday, October 26th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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