Sei Investments Co. decreased its position in Republic Services, Inc. (NYSE:RSG) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 474,093 shares of the business services provider’s stock after selling 27,614 shares during the period. Sei Investments Co. owned approximately 0.14% of Republic Services worth $31,318,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Republic Services by 6.4% in the second quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after buying an additional 1,223,613 shares during the period. Vanguard Group Inc. lifted its holdings in Republic Services by 2.2% in the second quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after buying an additional 418,797 shares during the period. JPMorgan Chase & Co. lifted its holdings in Republic Services by 6.0% in the second quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock valued at $434,002,000 after buying an additional 388,147 shares during the period. Wells Fargo & Company MN lifted its holdings in Republic Services by 8.3% in the second quarter. Wells Fargo & Company MN now owns 5,087,694 shares of the business services provider’s stock valued at $324,239,000 after buying an additional 391,482 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Republic Services by 13,584.4% in the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after buying an additional 3,717,509 shares during the period. Institutional investors and hedge funds own 60.71% of the company’s stock.
In other news, EVP Jeffrey A. Hughes sold 6,329 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the sale, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at $528,622.14. The disclosure for this sale can be found here. Insiders have sold 43,187 shares of company stock worth $2,854,922 in the last quarter. Company insiders own 0.40% of the company’s stock.
Shares of Republic Services, Inc. (RSG) traded down $0.32 during midday trading on Friday, hitting $63.45. 835,000 shares of the stock traded hands, compared to its average volume of 1,295,258. Republic Services, Inc. has a 52-week low of $52.83 and a 52-week high of $67.18. The firm has a market capitalization of $21,206.58, a price-to-earnings ratio of 26.44, a P/E/G ratio of 3.12 and a beta of 0.61. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. sell-side analysts forecast that Republic Services, Inc. will post 2.4 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.17%. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services announced that its board has approved a stock repurchase program on Thursday, November 2nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
RSG has been the topic of several recent analyst reports. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC restated a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. BMO Capital Markets boosted their target price on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Republic Services in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $67.71.
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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