Brown Advisory Inc. lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 15.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,038 shares of the business services provider’s stock after selling 1,607 shares during the quarter. Brown Advisory Inc.’s holdings in Republic Services were worth $784,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of RSG. Geode Capital Management LLC grew its holdings in Republic Services by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock worth $275,009,000 after acquiring an additional 324,355 shares during the last quarter. Stephens Inc. AR grew its holdings in Republic Services by 19.2% during the 1st quarter. Stephens Inc. AR now owns 22,666 shares of the business services provider’s stock worth $1,822,000 after acquiring an additional 3,650 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Republic Services by 4.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 20,402 shares of the business services provider’s stock worth $1,640,000 after acquiring an additional 911 shares during the last quarter. Toronto Dominion Bank grew its holdings in Republic Services by 15.9% during the 1st quarter. Toronto Dominion Bank now owns 149,930 shares of the business services provider’s stock worth $12,048,000 after acquiring an additional 20,622 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new stake in Republic Services during the 1st quarter worth about $289,000. 58.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE RSG opened at $86.22 on Friday. The firm has a market capitalization of $27.66 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.87. Republic Services, Inc. has a 1 year low of $67.48 and a 1 year high of $90.61. The firm’s 50-day moving average is $88.15 and its 200-day moving average is $84.92.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. Republic Services’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. As a group, equities research analysts anticipate that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 30th. Republic Services’s dividend payout ratio (DPR) is currently 48.54%.
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Republic Services in a research note on Wednesday, August 7th. They issued a “neutral” rating and a $94.00 target price on the stock. Raymond James set a $93.00 target price on shares of Republic Services and gave the company an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus set a $95.00 target price on shares of Republic Services and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada set a $91.00 target price on shares of Republic Services and gave the company a “hold” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Republic Services has an average rating of “Hold” and a consensus price target of $85.17.
In related news, EVP Catharine D. Ellingsen sold 3,100 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 14,307 shares in the company, valued at approximately $1,287,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald W. Slager sold 95,126 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $90.00, for a total transaction of $8,561,340.00. Following the completion of the sale, the chief executive officer now owns 382,736 shares in the company, valued at $34,446,240. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock worth $13,240,530 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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