Republic Services Inc. (NYSE:RSG) declared a quarterly dividend on Thursday, July 28th. Investors of record on Monday, October 3rd will be given a dividend of 0.32 per share on Friday, October 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.30.
Republic Services (NYSE:RSG) opened at 50.78 on Friday. The company’s 50-day moving average price is $50.85 and its 200-day moving average price is $49.35. The firm has a market capitalization of $17.41 billion, a P/E ratio of 24.40 and a beta of 0.59. Republic Services has a 1-year low of $40.05 and a 1-year high of $52.92.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts expect that Republic Services will post $2.16 earnings per share for the current fiscal year.
In other Republic Services news, CAO Brian A. Goebel sold 1,695 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $52.10, for a total value of $88,309.50. Following the completion of the sale, the chief accounting officer now directly owns 6,391 shares in the company, valued at $332,971.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian A. Goebel sold 3,780 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $50.83, for a total transaction of $192,137.40. Following the completion of the sale, the chief accounting officer now owns 7,671 shares of the company’s stock, valued at $389,916.93. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Republic Services by 16.1% in the second quarter. BlackRock Inc. now owns 584,992 shares of the company’s stock valued at $30,016,000 after buying an additional 80,952 shares during the period. BlackRock Fund Advisors raised its position in Republic Services by 21.9% in the second quarter. BlackRock Fund Advisors now owns 7,074,214 shares of the company’s stock valued at $362,978,000 after buying an additional 1,270,660 shares during the last quarter. BlackRock Group LTD raised its position in Republic Services by 10.2% in the second quarter. BlackRock Group LTD now owns 2,925,197 shares of the company’s stock valued at $150,092,000 after buying an additional 269,606 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Republic Services by 5.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,736,767 shares of the company’s stock valued at $396,974,000 after buying an additional 426,740 shares during the last quarter. Finally, US Bancorp DE raised its position in Republic Services by 2.0% in the second quarter. US Bancorp DE now owns 220,100 shares of the company’s stock valued at $11,293,000 after buying an additional 4,290 shares during the last quarter. Institutional investors and hedge funds own 61.01% of the company’s stock.
A number of brokerages have recently issued reports on RSG. Barclays PLC raised their price objective on Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Zacks Investment Research cut Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday. Imperial Capital raised their price objective on Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Macquarie began coverage on Republic Services in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.70.
About Republic Services
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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