Sigma Planning Corp lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,528 shares of the business services provider’s stock after selling 598 shares during the period. Sigma Planning Corp’s holdings in Republic Services were worth $2,368,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in RSG. Nordea Investment Management AB grew its holdings in Republic Services by 147.2% in the first quarter. Nordea Investment Management AB now owns 5,033,908 shares of the business services provider’s stock valued at $499,062,000 after purchasing an additional 2,997,759 shares during the last quarter. BlackRock Inc. grew its holdings in Republic Services by 4.0% in the second quarter. BlackRock Inc. now owns 20,712,888 shares of the business services provider’s stock valued at $2,278,625,000 after purchasing an additional 792,584 shares during the last quarter. Millennium Management LLC grew its holdings in Republic Services by 370.8% in the first quarter. Millennium Management LLC now owns 897,483 shares of the business services provider’s stock valued at $89,165,000 after purchasing an additional 706,837 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Republic Services by 46.4% in the first quarter. Nuveen Asset Management LLC now owns 1,182,739 shares of the business services provider’s stock valued at $117,505,000 after purchasing an additional 374,635 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Republic Services by 31.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,445,155 shares of the business services provider’s stock valued at $143,576,000 after acquiring an additional 347,881 shares in the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE RSG opened at $126.55 on Thursday. Republic Services, Inc. has a fifty-two week low of $86.18 and a fifty-two week high of $127.60. The business has a 50 day moving average price of $122.85 and a two-hundred day moving average price of $113.91. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.01. The firm has a market cap of $40.29 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, September 30th. This is a positive change from Republic Services’s previous quarterly dividend of $0.43. Republic Services’s dividend payout ratio (DPR) is 51.69%.
Several brokerages have recently issued reports on RSG. Royal Bank of Canada upped their price objective on Republic Services from $111.00 to $118.00 and gave the company a “sector perform” rating in a research report on Friday, July 30th. They noted that the move was a valuation call. Oppenheimer increased their target price on Republic Services from $117.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, July 16th. The Goldman Sachs Group upgraded Republic Services from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, August 24th. BMO Capital Markets raised their price objective on Republic Services from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Monday, August 2nd. Finally, Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating and set a $128.00 target price for the company. in a research note on Wednesday, September 29th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Republic Services presently has a consensus rating of “Buy” and an average target price of $116.18.
Republic Services Profile
Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.
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