Principal Financial Group Inc. raised its stake in Republic Services Inc. (NYSE:RSG) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 348,302 shares of the company’s stock after buying an additional 398 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Republic Services worth $17,872,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its position in Republic Services by 45.0% in the first quarter. IFP Advisors Inc now owns 4,198 shares of the company’s stock valued at $200,000 after buying an additional 1,303 shares in the last quarter. Reynolds Capital Management LLC purchased a new position in Republic Services during the first quarter valued at approximately $210,000. Private Bank & Trust Co. purchased a new position in Republic Services during the second quarter valued at approximately $213,000. Fox Run Management L.L.C. purchased a new position in Republic Services during the second quarter valued at approximately $216,000. Finally, Advance Capital I Inc. purchased a new position in Republic Services during the second quarter valued at approximately $231,000. Institutional investors and hedge funds own 61.01% of the company’s stock.
Republic Services Inc. (NYSE:RSG) traded up 0.12% during midday trading on Tuesday, reaching $50.46. The company had a trading volume of 47,123 shares. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 24.25 and a beta of 0.54. Republic Services Inc. has a one year low of $41.64 and a one year high of $52.92. The company has a 50-day moving average price of $50.71 and a 200-day moving average price of $49.52.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. The business earned $2.35 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Republic Services Inc. will post $2.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.28 annualized dividend and a yield of 2.54%. This is a positive change from Republic Services’s previous quarterly dividend of $0.30. Republic Services’s payout ratio is 61.84%.
RSG has been the subject of several research reports. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 29th. Imperial Capital increased their target price on Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Barclays PLC increased their target price on Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Finally, Macquarie initiated coverage on Republic Services in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price target for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Republic Services currently has a consensus rating of “Buy” and an average target price of $51.90.
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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