Stifel Financial Corp boosted its position in Republic Services, Inc. (NYSE:RSG) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,436 shares of the business services provider’s stock after acquiring an additional 3,210 shares during the quarter. Stifel Financial Corp’s holdings in Republic Services were worth $10,509,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. First Bank & Trust acquired a new stake in Republic Services in the second quarter valued at approximately $35,000. Gradient Investments LLC lifted its holdings in shares of Republic Services by 896.1% during 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 during the period. Usca Ria LLC acquired a new position in shares of Republic Services during the third quarter worth $45,000. Atlas Capital Advisors LLC acquired a new position in shares of Republic Services during the third quarter worth $50,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Republic Services by 206.8% during the second quarter. CSat Investment Advisory L.P. now owns 681 shares of the business services provider’s stock worth $59,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.
In other Republic Services news, insider Welborn John 3,000,000 shares of Republic Services stock in a transaction that occurred on Thursday, November 21st. Also, CEO Donald W. Slager sold 48,891 shares of Republic Services stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $90.00, for a total transaction of $4,400,190.00. Following the completion of the sale, the chief executive officer now directly owns 333,846 shares of the company’s stock, valued at $30,046,140. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
RSG stock opened at $87.69 on Tuesday. The firm has a market cap of $28.29 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 3.22 and a beta of 0.49. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.97. Republic Services, Inc. has a 12-month low of $68.94 and a 12-month high of $90.61. The company’s fifty day simple moving average is $87.02 and its 200 day simple moving average is $87.10.
Republic Services (NYSE:RSG) last released 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. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.69 billion. Republic Services had a net margin of 10.58% and a return on equity of 13.13%. Republic Services’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. Research analysts expect that Republic Services, Inc. will post 3.28 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 issued a $0.405 dividend. The ex-dividend date is Wednesday, January 1st. This represents a $1.62 annualized dividend and a yield of 1.85%. Republic Services’s payout ratio is 52.43%.
RSG has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Republic Services in a report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price target on the stock. ValuEngine lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Friday, October 18th. Stifel Nicolaus set a $95.00 price target on shares of Republic Services and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Republic Services in a report on Wednesday, November 27th. They set a “buy” rating and a $100.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $88.67.
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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