Nisa Investment Advisors LLC increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,403 shares of the business services provider’s stock after acquiring an additional 2,900 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Republic Services were worth $4,874,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Asset Advisors Investment Management LLC acquired a new position in shares of Republic Services during the 2nd quarter valued at about $25,000. Engrave Wealth Partners LLC acquired a new position in shares of Republic Services during the 4th quarter valued at about $33,000. Endurance Wealth Management Inc. boosted its position in shares of Republic Services by 317.1% during the 1st quarter. Endurance Wealth Management Inc. now owns 438 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 333 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Republic Services during the 2nd quarter valued at about $41,000. Finally, Eudaimonia Partners LLC acquired a new position in shares of Republic Services during the 1st quarter valued at about $47,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Tomago Collins sold 4,940 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $81.58, for a total transaction of $403,005.20. Following the completion of the transaction, the director now directly owns 9,879 shares of the company’s stock, valued at $805,928.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Charles F. Serianni sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $81.53, for a total value of $122,295.00. Following the transaction, the chief financial officer now directly owns 44,156 shares of the company’s stock, valued at $3,600,038.68. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on the stock. Raymond James boosted their price target on shares of Republic Services from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective 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. Deutsche Bank reduced their price objective on shares of Republic Services from $102.00 to $82.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Robert W. Baird assumed coverage on shares of Republic Services in a report on Thursday, May 28th. They issued an “outperform” rating and a $90.00 price objective on the stock. Finally, UBS Group reduced their price objective on shares of Republic Services from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $89.77.
Shares of NYSE:RSG opened at $87.06 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $27.65 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 4.55 and a beta of 0.62. The firm’s 50-day moving average is $82.69 and its two-hundred day moving average is $85.22. Republic Services, Inc. has a 1 year low of $65.37 and a 1 year high of $100.91.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, May 5th. The business services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.53 billion. Republic Services had a net margin of 10.45% and a return on equity of 13.47%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. Analysts expect that Republic Services, Inc. will post 2.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid 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 dividend on an annualized basis and a yield of 1.95%. 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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