Johnson Financial Group Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,368 shares of the business services provider’s stock after purchasing an additional 170 shares during the period. Johnson Financial Group Inc.’s holdings in Republic Services were worth $916,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RSG. BlackRock Inc. boosted its position in shares of Republic Services by 2,800.0% during the 1st quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after acquiring an additional 18,401,448 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Republic Services by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after acquiring an additional 1,086,931 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Republic Services by 329.6% during the 1st quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock worth $54,959,000 after acquiring an additional 671,300 shares in the last quarter. Wellington Management Group LLP bought a new position in Republic Services in the 1st quarter valued at approximately $39,751,000. Finally, State Street Corp lifted its stake in Republic Services by 4.5% in the 1st quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after purchasing an additional 501,491 shares during the last quarter. Hedge funds and other institutional investors own 60.59% of the company’s stock.
In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares of the company’s stock, valued at approximately $28,462. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.
Republic Services, Inc. (NYSE RSG) traded up 0.07% during midday trading on Friday, hitting $66.89. 1,044,017 shares of the stock traded hands. The stock’s 50-day moving average price is $64.80 and its 200 day moving average price is $63.68. The company has a market capitalization of $22.53 billion, a price-to-earnings ratio of 34.34 and a beta of 0.60. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $66.93.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities research analysts predict that Republic Services, Inc. will post $2.39 EPS for the current 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 paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.06%. This is an increase 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 presently 65.64%.
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RSG has been the subject of several research reports. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Friday, June 16th. Stifel Nicolaus reissued a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $71.88.
Republic Services 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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