First Midwest Bank Trust Division bought a new stake in Republic Services Inc. (NYSE:RSG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,226 shares of the company’s stock, valued at approximately $422,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Republic Services during the second quarter valued at about $46,588,000. Credit Agricole S A raised its stake in Republic Services by 209.5% in the first quarter. Credit Agricole S A now owns 927,384 shares of the company’s stock valued at $44,190,000 after buying an additional 627,718 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Republic Services by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,310,027 shares of the company’s stock valued at $348,323,000 after buying an additional 408,045 shares during the last quarter. Bessemer Group Inc. raised its stake in Republic Services by 716.2% in the first quarter. Bessemer Group Inc. now owns 442,507 shares of the company’s stock valued at $21,086,000 after buying an additional 388,289 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Republic Services by 10.6% in the first quarter. BlackRock Group LTD now owns 2,655,591 shares of the company’s stock valued at $126,539,000 after buying an additional 255,506 shares during the last quarter. Institutional investors and hedge funds own 61.01% of the company’s stock.
Shares of Republic Services Inc. (NYSE:RSG) traded down 0.26% during trading on Thursday, hitting $49.72. The stock had a trading volume of 1,775,232 shares. The company’s 50 day moving average price is $50.62 and its 200 day moving average price is $49.54. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 23.89 and a beta of 0.54. Republic Services Inc. has a 52 week low of $41.82 and a 52 week high of $52.92.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. Republic Services’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Analysts predict that Republic Services Inc. will post $2.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be issued 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 is Thursday, September 29th. This is a boost from Republic Services’s previous quarterly dividend of $0.30. Republic Services’s payout ratio is 61.84%.
Several analysts have issued reports on RSG shares. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, September 28th. Imperial Capital upped their price objective on Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Macquarie started coverage on Republic Services in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price objective on the stock. Finally, Barclays PLC upped their price objective on Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $51.90.
In related news, insider Donald W. Slager sold 26,000 shares of Republic Services stock in a transaction that occurred 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 sale, the insider now owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate 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.