Pillar Pacific Capital Management LLC cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,495 shares of the business services provider’s stock after selling 300 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Republic Services were worth $216,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. First Bank & Trust purchased a new stake in Republic Services during the second quarter valued at approximately $35,000. Gemmer Asset Management LLC grew its stake in Republic Services by 140.2% in the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after purchasing an additional 265 shares in the last quarter. Gradient Investments LLC grew its stake in Republic Services by 896.1% in the third quarter. Gradient Investments LLC now owns 508 shares of the business services provider’s stock worth $44,000 after purchasing an additional 457 shares in the last quarter. Usca Ria LLC bought a new position in Republic Services in the third quarter worth approximately $45,000. Finally, Atlas Capital Advisors LLC bought a new position in Republic Services in the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 59.13% of the company’s stock.
In other Republic Services news, CEO Donald W. Slager sold 95,126 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $90.00, for a total transaction of $8,561,340.00. Following the sale, the chief executive officer now directly owns 382,736 shares of the company’s stock, valued at approximately $34,446,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald W. Slager sold 48,891 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $90.00, for a total value of $4,400,190.00. Following the sale, the chief executive officer now owns 333,846 shares in the company, valued at $30,046,140. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
NYSE RSG traded up $0.49 during midday trading on Friday, hitting $85.99. 190,372 shares of the company traded hands, compared to its average volume of 975,664. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market cap of $27.36 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49. The company’s 50-day simple moving average is $86.60 and its 200-day simple moving average is $86.43. Republic Services, Inc. has a 52 week low of $68.94 and a 52 week high of $90.61.
Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, October 30th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Republic Services had a return on equity of 13.13% and a net margin of 10.58%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts predict that Republic Services, Inc. will post 3.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.405 dividend. The ex-dividend date of this dividend is Wednesday, January 1st. This represents a $1.62 dividend on an annualized basis and a yield of 1.88%. Republic Services’s dividend payout ratio (DPR) is 52.43%.
Several research analysts recently issued reports on RSG shares. ValuEngine cut Republic Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada set a $91.00 price objective on Republic Services and gave the stock a “hold” rating in a research note on Friday, July 26th. Raymond James set a $93.00 price objective on Republic Services and gave the stock an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus set a $95.00 price objective on Republic Services and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $89.37.
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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