Louisiana State Employees Retirement System lowered its stake in shares of Republic Services Inc. (NYSE:RSG) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,600 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Republic Services were worth $800,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Republic Services by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,082,515 shares of the company’s stock valued at $99,046,000 after buying an additional 26,552 shares during the period. National Pension Service increased its position in Republic Services by 4.6% in the first quarter. National Pension Service now owns 174,785 shares of the company’s stock valued at $8,329,000 after buying an additional 7,632 shares during the period. Prudential PLC increased its position in Republic Services by 16.1% in the first quarter. Prudential PLC now owns 26,719 shares of the company’s stock valued at $1,273,000 after buying an additional 3,700 shares during the period. Private Bank & Trust Co. bought a new position in Republic Services during the second quarter valued at about $213,000. Finally, Sigma Planning Corp increased its position in Republic Services by 4.3% in the second quarter. Sigma Planning Corp now owns 6,861 shares of the company’s stock valued at $352,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 61.01% of the company’s stock.
Shares of Republic Services Inc. (NYSE:RSG) traded down 0.46% during midday trading on Friday, reaching $49.49. The company had a trading volume of 1,296,354 shares. The stock has a market capitalization of $16.97 billion, a PE ratio of 23.78 and a beta of 0.54. The company’s 50 day moving average price is $50.57 and its 200 day moving average price is $49.55. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $52.92.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. The company earned $2.35 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the business posted $0.54 EPS. Republic Services’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts expect that Republic Services Inc. will post $2.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.59%. This is a boost from Republic Services’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, September 29th. Republic Services’s dividend payout ratio (DPR) is 61.84%.
Several equities analysts have recently issued reports on RSG shares. Macquarie started coverage on shares of Republic Services in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective on the stock. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Wednesday, September 28th. Imperial Capital upped their price objective on shares of Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Finally, Barclays PLC upped their price objective on shares of Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Republic Services has a consensus rating of “Buy” and an average target price of $51.90.
In related news, insider Donald W. Slager sold 26,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $50.37, for a total transaction of $1,309,620.00. Following the completion of the transaction, the insider now directly owns 234,397 shares in the company, valued at approximately $11,806,576.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
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.