Hexagon Capital Partners LLC lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 18.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,289 shares of the business services provider’s stock after selling 289 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Republic Services were worth $128,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its stake in Republic Services by 2.0% during the first quarter. Comerica Bank now owns 159,334 shares of the business services provider’s stock valued at $16,952,000 after buying an additional 3,121 shares in the last quarter. FIL Ltd raised its position in shares of Republic Services by 16.3% during the 4th quarter. FIL Ltd now owns 842,786 shares of the business services provider’s stock worth $81,160,000 after purchasing an additional 118,346 shares during the period. Bank of Nova Scotia raised its position in shares of Republic Services by 197.6% during the 1st quarter. Bank of Nova Scotia now owns 271,607 shares of the business services provider’s stock worth $26,984,000 after purchasing an additional 180,342 shares during the period. Korea Investment CORP raised its position in shares of Republic Services by 20.8% during the 1st quarter. Korea Investment CORP now owns 85,300 shares of the business services provider’s stock worth $8,475,000 after purchasing an additional 14,700 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Republic Services by 5.6% during the 4th quarter. Handelsbanken Fonder AB now owns 48,712 shares of the business services provider’s stock worth $4,691,000 after purchasing an additional 2,600 shares during the period. Hedge funds and other institutional investors own 57.56% of the company’s stock.
A number of analysts have recently weighed in on the company. Morgan Stanley increased their price target on Republic Services from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 6th. JPMorgan Chase & Co. raised Republic Services from a “neutral” rating to an “overweight” rating and set a $102.00 price objective for the company in a report on Tuesday, February 23rd. They noted that the move was a valuation call. BMO Capital Markets decreased their price objective on Republic Services from $107.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday, February 24th. The Goldman Sachs Group started coverage on Republic Services in a report on Wednesday, April 7th. They issued a “buy” rating and a $117.00 price objective for the company. Finally, Raymond James increased their price objective on Republic Services from $111.00 to $117.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $107.00.
In other news, EVP Jeffrey A. Hughes sold 6,770 shares of the stock in a transaction on Monday, May 10th. The stock was sold at an average price of $111.44, for a total value of $754,448.80. Following the completion of the sale, the executive vice president now owns 6,284 shares in the company, valued at $700,288.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian A. Goebel sold 1,224 shares of the stock in a transaction on Friday, May 7th. The shares were sold at an average price of $110.67, for a total value of $135,460.08. Insiders have sold a total of 20,782 shares of company stock valued at $2,326,129 in the last quarter. Insiders own 0.20% of the company’s stock.
Shares of NYSE RSG opened at $108.77 on Wednesday. The firm’s fifty day moving average price is $108.16. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.99. The company has a market cap of $34.70 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 2.91 and a beta of 0.70. Republic Services, Inc. has a 1 year low of $78.22 and a 1 year high of $113.28.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, May 5th. The business services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. Republic Services had a return on equity of 14.17% and a net margin of 9.97%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.61 billion. On average, analysts predict that Republic Services, Inc. will post 3.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Thursday, July 1st will be given a dividend of $0.425 per share. The ex-dividend date is Wednesday, June 30th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.56%. Republic Services’s dividend payout ratio (DPR) is presently 47.75%.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
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