NN Investment Partners Holdings N.V. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 708.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,945 shares of the business services provider’s stock after buying an additional 279,516 shares during the period. NN Investment Partners Holdings N.V. owned about 0.09% of Republic Services worth $20,326,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. KAMES CAPITAL plc increased its stake in shares of Republic Services by 29.8% in the second quarter. KAMES CAPITAL plc now owns 18,582 shares of the business services provider’s stock worth $1,185,000 after buying an additional 4,266 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Republic Services by 17.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 140,223 shares of the business services provider’s stock worth $8,808,000 after buying an additional 20,633 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of Republic Services during the first quarter worth about $4,079,000. Bank of Nova Scotia increased its stake in shares of Republic Services by 1,676.4% in the first quarter. Bank of Nova Scotia now owns 93,813 shares of the business services provider’s stock worth $5,892,000 after buying an additional 88,532 shares during the period. Finally, Summit Global Investments increased its stake in Republic Services by 8.3% in the first quarter. Summit Global Investments now owns 69,371 shares of the business services provider’s stock worth $4,357,000 after buying an additional 5,320 shares during the last quarter. 61.66% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (NYSE RSG) traded down 0.40% during midday trading on Tuesday, reaching $64.44. The company had a trading volume of 739,689 shares. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54. The firm’s 50 day moving average price is $64.39 and its 200-day moving average price is $62.38. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 33.08 and a beta of 0.58.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect 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. Stockholders of record on Monday, October 2nd will be paid a $0.345 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is presently 65.64%.
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A number of analysts recently weighed in on RSG shares. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, May 2nd. Barclays PLC restated a “hold” rating and issued a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. BMO Capital Markets initiated coverage on Republic Services in a research report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price objective for the company. Credit Suisse Group set a $69.00 price objective on Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a research report on Wednesday, July 19th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $69.78.
About Republic Services
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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