Smithfield Trust Co. decreased its position in Republic Services Inc. (NYSE:RSG) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 23,322 shares of the company’s stock after selling 190 shares during the period. Smithfield Trust Co.’s holdings in Republic Services were worth $1,196,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Republic Services during the first quarter worth approximately $815,000. M&T Bank Corp increased its position in shares of Republic Services by 54.7% in the first quarter. M&T Bank Corp now owns 13,798 shares of the company’s stock worth $656,000 after buying an additional 4,879 shares during the last quarter. ING Groep NV purchased a new position in shares of Republic Services during the first quarter worth approximately $261,000. Aviva PLC increased its position in shares of Republic Services by 0.5% in the first quarter. Aviva PLC now owns 300,699 shares of the company’s stock worth $14,328,000 after buying an additional 1,433 shares during the last quarter. Finally, Credit Agricole S A increased its position in shares of Republic Services by 209.5% in the first quarter. Credit Agricole S A now owns 927,384 shares of the company’s stock worth $44,190,000 after buying an additional 627,718 shares during the last quarter. Hedge funds and other institutional investors own 61.02% of the company’s stock.
Shares of Republic Services Inc. (NYSE:RSG) traded up 0.612% during midday trading on Monday, hitting $50.125. 469,545 shares of the stock were exchanged. Republic Services Inc. has a 12-month low of $41.82 and a 12-month high of $52.92. The company has a market cap of $17.19 billion, a PE ratio of 24.087 and a beta of 0.54. The firm has a 50-day moving average price of $50.36 and a 200-day moving average price of $49.60.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts predict that Republic Services Inc. will post $2.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.30. Republic Services’s dividend payout ratio (DPR) is currently 61.84%.
RSG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, June 29th. Imperial Capital boosted their target price on shares of Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Barclays PLC boosted their target price on shares of Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Finally, Macquarie initiated coverage on shares of Republic Services in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $51.90.
In other news, insider Donald W. Slager sold 26,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total value of $1,309,620.00. Following the transaction, the insider now owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.