Quantitative Investment Management LLC boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,200 shares of the business services provider’s stock after buying an additional 28,500 shares during the quarter. Quantitative Investment Management LLC owned approximately 0.05% of Republic Services worth $10,974,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Capital Management Ltd acquired a new position in Republic Services during the first quarter worth approximately $1,947,000. Dearborn Partners LLC grew its position in shares of Republic Services by 3.4% in the second quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock valued at $28,746,000 after purchasing an additional 14,701 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Republic Services by 1.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 47,622 shares of the business services provider’s stock valued at $2,991,000 after purchasing an additional 680 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Republic Services in the second quarter valued at approximately $12,536,000. Finally, Swiss National Bank grew its position in shares of Republic Services by 1.6% in the second quarter. Swiss National Bank now owns 1,869,648 shares of the business services provider’s stock valued at $119,153,000 after purchasing an additional 28,600 shares during the last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on RSG. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BMO Capital Markets began coverage on Republic Services in a research report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 target price on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 target price on Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $71.88.
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In related news, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.
Shares of Republic Services, Inc. (NYSE RSG) opened at 66.15 on Thursday. The company has a 50 day moving average price of $64.99 and a 200 day moving average price of $63.81. The company has a market capitalization of $22.28 billion, a PE ratio of 33.96 and a beta of 0.60. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $66.98.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business posted $0.55 EPS. Republic Services’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s payout ratio is currently 65.64%.
Republic Services 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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