US Bancorp DE Decreases Position in Republic Services Inc. (RSG)
US Bancorp DE reduced its position in shares of Republic Services Inc. (NYSE:RSG) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 219,767 shares of the company’s stock after selling 333 shares during the period. US Bancorp DE’s holdings in Republic Services were worth $11,088,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. Hilton Capital Management LLC boosted its stake in shares of Republic Services by 4.1% in the second quarter. Hilton Capital Management LLC now owns 224,133 shares of the company’s stock worth $11,500,000 after buying an additional 8,746 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Republic Services by 0.4% in the second quarter. Retirement Systems of Alabama now owns 244,455 shares of the company’s stock worth $12,543,000 after buying an additional 1,046 shares during the period. WESPAC Advisors LLC purchased a new stake in shares of Republic Services during the second quarter worth about $1,192,000. LSV Asset Management boosted its stake in shares of Republic Services by 28.9% in the second quarter. LSV Asset Management now owns 971,737 shares of the company’s stock worth $49,859,000 after buying an additional 217,600 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Republic Services by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,795 shares of the company’s stock worth $46,015,000 after buying an additional 14,589 shares during the period. 60.80% of the stock is owned by hedge funds and other institutional investors.
Republic Services Inc. (NYSE:RSG) traded down 0.02% during trading on Tuesday, reaching $55.85. The company had a trading volume of 559,688 shares. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $56.02. The firm has a market capitalization of $18.99 billion, a P/E ratio of 32.47 and a beta of 0.61. The company has a 50-day moving average of $52.17 and a 200-day moving average of $50.88.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.04. The firm earned $2.41 billion during the quarter, compared to analyst estimates of $2.40 billion. Republic Services had a return on equity of 9.62% and a net margin of 6.40%. Republic Services’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. Analysts expect that Republic Services Inc. will post $2.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Tuesday, January 3rd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.28 dividend on an annualized basis and a yield of 2.29%. Republic Services’s payout ratio is currently 74.85%.
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A number of analysts recently issued reports on RSG shares. Macquarie started coverage on Republic Services in a research report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price for the company. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. started coverage on Republic Services in a research report on Tuesday, November 1st. They set a “neutral” rating and a $52.00 price objective for the company. Deutsche Bank AG cut Republic Services from a “buy” rating to a “hold” rating and increased their price objective for the stock from $108.00 to $112.00 in a research report on Saturday, October 22nd. Finally, Imperial Capital increased their price objective on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $57.91.
In other Republic Services news, insider Donald W. Slager sold 164,628 shares of Republic Services stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $52.00, for a total value of $8,560,656.00. Following the completion of the transaction, the insider now directly owns 257,367 shares in the company, valued at $13,383,084. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Donald W. Slager sold 26,000 shares of Republic Services stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total value of $1,309,620.00. Following the completion of the transaction, the insider now owns 234,397 shares of the company’s stock, valued at $11,806,576.89. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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