Camden National Bank lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 127,678 shares of the business services provider’s stock after selling 3,244 shares during the period. Republic Services makes up 2.4% of Camden National Bank’s holdings, making the stock its 9th biggest holding. Camden National Bank’s holdings in Republic Services were worth $11,051,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaCrest Capital Management LLC acquired a new position in Republic Services in the 1st quarter valued at approximately $326,000. FIL Ltd increased its position in Republic Services by 54.9% in the 1st quarter. FIL Ltd now owns 12,696 shares of the business services provider’s stock valued at $1,021,000 after acquiring an additional 4,501 shares during the period. The Manufacturers Life Insurance Company increased its position in Republic Services by 13.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 215,406 shares of the business services provider’s stock valued at $17,315,000 after acquiring an additional 25,050 shares during the period. Trexquant Investment LP acquired a new position in Republic Services in the 1st quarter valued at approximately $1,129,000. Finally, Wealthfront Advisers LLC increased its position in Republic Services by 6.9% in the 1st quarter. Wealthfront Advisers LLC now owns 13,774 shares of the business services provider’s stock valued at $1,107,000 after acquiring an additional 891 shares during the period. 58.79% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on RSG shares. Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Stifel Nicolaus set a $95.00 price target on shares of Republic Services and gave the company a “buy” rating in a research report on Monday, September 23rd. ValuEngine cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James set a $93.00 price target on shares of Republic Services and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Republic Services in a research note on Wednesday, August 7th. They issued a “neutral” rating and a $94.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $85.17.
Shares of NYSE:RSG traded down $0.49 during trading on Friday, reaching $86.38. The stock had a trading volume of 770,452 shares, compared to its average volume of 1,089,435. The firm’s fifty day moving average is $87.22 and its 200 day moving average is $85.41. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.41 and a current ratio of 0.41. Republic Services, Inc. has a 52 week low of $67.48 and a 52 week high of $90.61. The stock has a market cap of $27.86 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.92 and a beta of 0.49.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts forecast that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.405 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, September 30th. Republic Services’s dividend payout ratio is currently 52.43%.
About Republic Services
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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