Edgestream Partners L.P. grew its position in Republic Services, Inc. (NYSE:RSG) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,122 shares of the business services provider’s stock after purchasing an additional 376 shares during the period. Edgestream Partners L.P.’s holdings in Republic Services were worth $454,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in RSG. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Republic Services by 0.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock valued at $307,000 after purchasing an additional 16 shares during the last quarter. MUFG Americas Holdings Corp boosted its position in shares of Republic Services by 0.4% during the second quarter. MUFG Americas Holdings Corp now owns 4,971 shares of the business services provider’s stock worth $317,000 after buying an additional 20 shares during the period. Blue Chip Partners Inc. boosted its position in shares of Republic Services by 0.5% during the second quarter. Blue Chip Partners Inc. now owns 4,763 shares of the business services provider’s stock worth $304,000 after buying an additional 25 shares during the period. Pinnacle Financial Partners Inc. boosted 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 valued at $210,000 after purchasing an additional 60 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Republic Services by 0.3% in the first quarter. Blair William & Co. IL now owns 26,078 shares of the business services provider’s stock valued at $1,617,000 after purchasing an additional 70 shares during the period. 60.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (NYSE RSG) traded down 0.81% during midday trading on Friday, hitting $66.30. 330,461 shares of the company’s stock traded hands. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 34.03 and a beta of 0.60. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $66.89. The company has a 50 day moving average price of $64.80 and a 200 day moving average price of $63.68.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. Republic Services’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is 65.64%.
A number of brokerages have issued reports on RSG. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BMO Capital Markets initiated coverage on Republic Services in a research report on Thursday, June 29th. They set an “outperform” rating and a $71.00 target price on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a research note on Friday, August 25th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 price target on Republic Services and gave the company a “hold” rating in a report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.88.
In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now owns 428 shares in the company, valued at $28,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by corporate insiders.
Republic Services Company Profile
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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