Rathbone Brothers plc continued to hold its stake in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,950 shares of the business services provider’s stock at the end of the second quarter. Rathbone Brothers plc’s holdings in Republic Services were worth $1,335,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Republic Services by 2,800.0% in 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Republic Services by 6.1% in 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 buying an additional 1,086,931 shares during the period. State Street Corp boosted its holdings 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 worth $731,866,000 after buying an additional 501,491 shares during the period. JPMorgan Chase & Co. boosted its holdings in Republic Services by 6.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock worth $434,002,000 after buying an additional 388,147 shares during the period. Finally, Janus Capital Management LLC boosted its holdings in Republic Services by 0.7% in the 1st quarter. Janus Capital Management LLC now owns 3,175,770 shares of the business services provider’s stock worth $199,470,000 after buying an additional 23,038 shares during the period. Institutional investors own 60.57% of the company’s stock.
In other Republic Services news, EVP Jeffrey A. Hughes sold 6,329 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the sale, the executive vice president now directly owns 428 shares in the company, valued at $28,462. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.
Republic Services, Inc. (NYSE:RSG) opened at 66.26 on Friday. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $66.98. The firm has a 50-day moving average of $64.99 and a 200-day moving average of $63.81. The company has a market capitalization of $22.31 billion, a P/E ratio of 34.01 and a beta of 0.60.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.55 earnings per share. Analysts anticipate that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.345 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 annualized dividend and a yield of 2.08%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is presently 65.64%.
Several research analysts have commented on RSG shares. 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 report on Friday, July 14th. KeyCorp reissued a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. Royal Bank Of Canada reissued an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. BMO Capital Markets initiated coverage on shares of Republic Services in a research report on Thursday, June 29th. They set an “outperform” rating and a $71.00 target price on the stock. 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 report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Republic Services currently has a consensus 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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