Fenimore Asset Management Inc. decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 136,897 shares of the business services provider’s stock after selling 1,300 shares during the period. Fenimore Asset Management Inc.’s holdings in Republic Services were worth $8,724,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of RSG. BlackRock Inc. boosted its position in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after buying an additional 18,401,448 shares during the last quarter. Vanguard Group Inc. boosted its position in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. State Street Corp boosted its position in Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after buying an additional 501,491 shares during the last quarter. American Century Companies Inc. boosted its position in Republic Services by 4.2% in the first quarter. American Century Companies Inc. now owns 8,915,076 shares of the business services provider’s stock valued at $559,956,000 after buying an additional 356,424 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Republic Services by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 6,421,842 shares of the business services provider’s stock valued at $403,356,000 after buying an additional 198,679 shares during the last quarter. 61.66% of the stock is owned by institutional investors.
Shares of Republic Services, Inc. (NYSE:RSG) traded down 0.40% during trading on Tuesday, hitting $64.44. 739,689 shares of the company’s stock were exchanged. Republic Services, Inc. has a 12-month low of $49.18 and a 12-month high of $65.54. The company has a 50-day moving average of $64.39 and a 200-day moving average of $62.38. The company has a market cap of $21.70 billion, a P/E ratio of 33.08 and a beta of 0.58.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. On average, equities analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio is 65.64%.
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Several equities analysts recently weighed in on RSG shares. Barclays PLC reaffirmed a “hold” rating and set a $59.00 target price on shares of Republic Services in a research note on Friday, April 28th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, July 14th. BMO Capital Markets raised their target price on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. Finally, Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.78.
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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