Mirae Asset Global Investments Co. Ltd. grew its holdings in Republic Services, Inc. (NYSE:RSG) by 41.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 57,138 shares of the business services provider’s stock after acquiring an additional 16,690 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Republic Services were worth $4,151,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RSG. Piedmont Investment Advisors LLC acquired a new position in Republic Services in the 2nd quarter valued at approximately $178,000. Cognios Capital LLC increased its position in Republic Services by 2.3% in the 2nd quarter. Cognios Capital LLC now owns 37,354 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 843 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Republic Services in the 2nd quarter valued at approximately $2,319,000. Fiera Capital Corp acquired a new position in Republic Services in the 2nd quarter valued at approximately $752,000. Finally, Sigma Planning Corp increased its position in Republic Services by 26.5% in the 2nd quarter. Sigma Planning Corp now owns 14,258 shares of the business services provider’s stock valued at $975,000 after acquiring an additional 2,988 shares during the period. Institutional investors and hedge funds own 60.02% of the company’s stock.
In other news, Director Jennifer M. Kirk acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was bought at an average cost of $72.35 per share, for a total transaction of $108,525.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $108,525. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. As a group, research analysts anticipate that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, December 31st. Republic Services’s dividend payout ratio (DPR) is presently 61.73%.
Several equities analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research report on Thursday, August 16th. Stifel Nicolaus upped their price target on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Bank of America cut shares of Republic Services from a “buy” rating to a “neutral” rating and set a $74.00 price target for the company. in a research report on Wednesday, October 24th. Goldman Sachs Group upgraded shares of Republic Services to a “hold” rating and set a $79.00 price target for the company in a research report on Tuesday. Finally, Oppenheimer restated a “hold” rating on shares of Republic Services in a research report on Friday, October 26th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Republic Services has a consensus rating of “Hold” and an average target price of $74.38.
Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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