Ardevora Asset Management LLP trimmed its position in Republic Services, Inc. (NYSE:RSG) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 539,500 shares of the business services provider’s stock after selling 5,000 shares during the period. Ardevora Asset Management LLP owned 0.16% of Republic Services worth $35,639,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Evercore Wealth Management LLC grew its stake in Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after purchasing an additional 521 shares during the period. Sun Life Financial INC grew its stake in Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Republic Services in the second quarter worth $141,000. Whittier Trust Co. of Nevada Inc. grew its stake in Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in Republic Services in the second quarter worth $191,000. 60.98% of the stock is currently owned by institutional investors.
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In other news, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the transaction, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.05, for a total value of $1,493,258.40. Following the transaction, the insider now directly owns 246,617 shares in the company, valued at $16,289,052.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,187 shares of company stock worth $2,854,922. Corporate insiders own 0.40% of the company’s stock.
RSG has been the topic of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $73.00 target price on shares of Republic Services in a report on Wednesday, July 19th. BMO Capital Markets boosted their target price on Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Barclays PLC reissued a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. Credit Suisse Group set a $69.00 target price on Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. Finally, Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.71.
Shares of Republic Services, Inc. (NYSE RSG) traded up $0.46 during trading hours on Tuesday, hitting $63.91. The stock had a trading volume of 768,800 shares, compared to its average volume of 1,133,568. The company has a market capitalization of $21,206.55, a P/E ratio of 26.44, a P/E/G ratio of 3.12 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54. Republic Services, Inc. has a 1 year low of $53.30 and a 1 year high of $67.18.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. sell-side analysts expect that Republic Services, Inc. will post 2.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, December 29th. Republic Services’s payout ratio is currently 58.47%.
Republic Services declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Republic Services Company 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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