Denver Investment Advisors LLC reduced its stake in Republic Services, Inc. (NYSE:RSG) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 29,790 shares of the business services provider’s stock after selling 400 shares during the period. Denver Investment Advisors LLC’s holdings in Republic Services were worth $1,899,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in RSG. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of Republic Services during the first quarter valued at about $203,000. Fox Run Management L.L.C. bought a new stake in shares of Republic Services during the first quarter valued at about $204,000. Pillar Pacific Capital Management LLC bought a new stake in shares of Republic Services during the first quarter valued at about $205,000. Finally, Tiedemann Wealth Management LLC bought a new stake in shares of Republic Services during the first quarter valued at about $205,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
Republic Services, Inc. (RSG) opened at 64.13 on Friday. Republic Services, Inc. has a 12 month low of $49.18 and a 12 month high of $65.54. The company has a market capitalization of $21.60 billion, a PE ratio of 32.92 and a beta of 0.58. The company has a 50-day moving average price of $64.41 and a 200 day moving average price of $62.83.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating 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 firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio is currently 65.64%.
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RSG has been the topic of several research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Friday, July 14th. Credit Suisse Group set a $63.00 target price on Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price 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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