Rhumbline Advisers cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 430,797 shares of the business services provider's stock after selling 12,570 shares during the quarter. Rhumbline Advisers owned about 0.14% of Republic Services worth $83,721,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. YHB Investment Advisors Inc. purchased a new position in shares of Republic Services in the first quarter worth about $29,000. EntryPoint Capital LLC purchased a new position in shares of Republic Services in the first quarter worth about $29,000. Bogart Wealth LLC purchased a new position in shares of Republic Services in the fourth quarter worth about $30,000. Jones Financial Companies Lllp raised its stake in shares of Republic Services by 3,014.3% in the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider's stock worth $36,000 after purchasing an additional 211 shares during the last quarter. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services in the second quarter worth about $45,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company's stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Raymond James dropped their target price on Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. CIBC raised their target price on Republic Services from $196.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Robert W. Baird raised their price objective on Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. Truist Financial raised Republic Services from a "hold" rating to a "buy" rating and raised their price objective for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, Stifel Nicolaus lifted their price target on Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $211.00.
View Our Latest Report on Republic Services
Republic Services Trading Up 0.9 %
NYSE:RSG traded up $1.88 on Wednesday, reaching $207.71. The company's stock had a trading volume of 790,541 shares, compared to its average volume of 1,178,467. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market cap of $65.24 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. The stock has a 50 day moving average price of $199.99 and a 200 day moving average price of $191.98.
Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. On average, equities analysts anticipate that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.
Republic Services Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.12%. This is an increase from Republic Services's previous quarterly dividend of $0.54. Republic Services's payout ratio is currently 37.54%.
About Republic Services
(
Free Report)
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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