State Treasurer State of Michigan decreased its stake in Republic Services Inc. (NYSE:RSG) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 81,340 shares of the company’s stock after selling 1,100 shares during the period. State Treasurer State of Michigan’s holdings in Republic Services were worth $4,104,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Hilton Capital Management LLC boosted its stake in Republic Services by 4.1% in the second quarter. Hilton Capital Management LLC now owns 224,133 shares of the company’s stock valued at $11,500,000 after buying an additional 8,746 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Republic Services by 0.4% in the second quarter. Retirement Systems of Alabama now owns 244,455 shares of the company’s stock valued at $12,543,000 after buying an additional 1,046 shares in the last quarter. WESPAC Advisors LLC purchased a new stake in Republic Services during the second quarter valued at $1,192,000. LSV Asset Management boosted its stake in Republic Services by 28.9% in the second quarter. LSV Asset Management now owns 971,737 shares of the company’s stock valued at $49,859,000 after buying an additional 217,600 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Republic Services by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,795 shares of the company’s stock valued at $46,015,000 after buying an additional 14,589 shares in the last quarter. 60.80% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services Inc. (NYSE:RSG) traded up 0.41% on Monday, reaching $55.86. 1,236,720 shares of the company were exchanged. The stock’s 50-day moving average is $51.99 and its 200 day moving average is $50.79. Republic Services Inc. has a 12-month low of $41.82 and a 12-month high of $55.93. The firm has a market capitalization of $18.99 billion, a PE ratio of 32.48 and a beta of 0.61.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, October 27th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. The business earned $2.41 billion during the quarter, compared to analyst estimates of $2.40 billion. Republic Services had a return on equity of 9.62% and a net margin of 6.40%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, analysts forecast that Republic Services Inc. will post $2.20 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Tuesday, January 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 2.29%. The ex-dividend date is Thursday, December 29th. Republic Services’s payout ratio is presently 74.85%.
RSG has been the subject of several recent analyst reports. Macquarie initiated coverage on shares of Republic Services in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective for the company. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. started coverage on shares of Republic Services in a report on Tuesday, November 1st. They issued a “neutral” rating and a $52.00 target price for the company. Deutsche Bank AG cut shares of Republic Services from a “buy” rating to a “hold” rating and increased their target price for the stock from $108.00 to $112.00 in a report on Saturday, October 22nd. Finally, Imperial Capital increased their target price on shares of Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.91.
In other news, insider Donald W. Slager sold 26,000 shares of the business’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 owns 234,397 shares of the company’s stock, valued at $11,806,576.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 164,628 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $52.00, for a total value of $8,560,656.00. Following the transaction, the insider now directly owns 257,367 shares of the company’s stock, valued at approximately $13,383,084. The disclosure for this sale can be found here. Company 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.