GWM Advisors LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 43.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,763 shares of the business services provider’s stock after selling 16,994 shares during the period. GWM Advisors LLC’s holdings in Republic Services were worth $1,786,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its holdings in Republic Services by 7.3% during the first quarter. Mercer Global Advisors Inc. ADV now owns 42,827 shares of the business services provider’s stock valued at $3,215,000 after purchasing an additional 2,920 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Republic Services by 9.8% in the first quarter. Clearbridge Investments LLC now owns 70,203 shares of the business services provider’s stock valued at $5,269,000 after buying an additional 6,285 shares during the period. Carnegie Capital Asset Management LLC boosted its holdings in shares of Republic Services by 34.5% in the second quarter. Carnegie Capital Asset Management LLC now owns 78,246 shares of the business services provider’s stock valued at $6,418,000 after buying an additional 20,066 shares during the period. PGGM Investments boosted its holdings in shares of Republic Services by 0.4% in the second quarter. PGGM Investments now owns 390,441 shares of the business services provider’s stock valued at $32,036,000 after buying an additional 1,504 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Republic Services by 14,755.8% in the first quarter. Tower Research Capital LLC TRC now owns 6,388 shares of the business services provider’s stock valued at $479,000 after buying an additional 6,345 shares during the period. 56.90% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on RSG shares. Royal Bank of Canada upped their price target on shares of Republic Services from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Robert W. Baird started coverage on shares of Republic Services in a report on Thursday, May 28th. They issued an “outperform” rating and a $90.00 price target for the company. UBS Group reduced their price target on shares of Republic Services from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Monday, July 20th. Finally, Jefferies Financial Group cut shares of Republic Services from a “buy” rating to a “hold” rating and reduced their price target for the company from $83.00 to $81.00 in a report on Tuesday, April 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.77.
Shares of RSG stock opened at $87.25 on Friday. The company’s fifty day simple moving average is $82.67 and its 200-day simple moving average is $85.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.10. The firm has a market cap of $27.71 billion, a PE ratio of 25.76, a P/E/G ratio of 4.55 and a beta of 0.62. Republic Services, Inc. has a 12 month low of $65.37 and a 12 month high of $100.91.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, May 5th. The business services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Republic Services had a net margin of 10.45% and a return on equity of 13.47%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Republic Services, Inc. will post 2.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.425 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, September 30th. Republic Services’s dividend payout ratio is 48.50%.
Republic Services Company 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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