Daiwa Securities Group Inc. decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 48.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,976 shares of the business services provider’s stock after selling 6,518 shares during the period. Daiwa Securities Group Inc.’s holdings in Republic Services were worth $472,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in RSG. SeaCrest Wealth Management LLC purchased a new stake in Republic Services during the 4th quarter worth $121,000. Benjamin F. Edwards & Company Inc. increased its stake in Republic Services by 507.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock worth $123,000 after buying an additional 1,523 shares during the period. Welch & Forbes LLC purchased a new stake in Republic Services during the 4th quarter worth $201,000. Cetera Investment Advisers purchased a new stake in Republic Services during the 2nd quarter worth $211,000. Finally, Advisory Services Network LLC increased its stake in Republic Services by 6.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after buying an additional 223 shares during the period. 59.31% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO Brian A. Goebel sold 1,220 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total value of $83,033.20. Following the completion of the sale, the chief accounting officer now owns 7,406 shares of the company’s stock, valued at approximately $504,052.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian A. Goebel sold 1,290 shares of Republic Services stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $68.44, for a total transaction of $88,287.60. Following the completion of the transaction, the chief accounting officer now directly owns 6,696 shares of the company’s stock, valued at $458,274.24. The disclosure for this sale can be found here. Insiders sold a total of 104,642 shares of company stock valued at $6,741,314 in the last three months. Insiders own 0.40% of the company’s stock.
Shares of Republic Services, Inc. (RSG) opened at $65.14 on Monday. The firm has a market cap of $21,575.28, a PE ratio of 17.19, a PEG ratio of 2.07 and a beta of 0.54. Republic Services, Inc. has a 1 year low of $58.60 and a 1 year high of $69.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.51.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. equities research analysts forecast that Republic Services, Inc. will post 3.08 earnings per share for the current fiscal year.
Republic Services declared that its board has approved a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, March 29th. Republic Services’s payout ratio is currently 36.41%.
Several equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, February 7th. Credit Suisse Group dropped their price target on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Bank of America lifted their price target on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $68.57.
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Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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