Morgan Dempsey Capital Management LLC continued to hold its position in shares of Republic Services Inc. (NYSE:RSG) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,115 shares of the company’s stock at the end of the second quarter. Morgan Dempsey Capital Management LLC’s holdings in Republic Services were worth $262,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of RSG. Private Bank & Trust Co. purchased a new position in shares of Republic Services during the second quarter valued at about $213,000. IFP Advisors Inc increased its position in shares of Republic Services by 45.0% in the first quarter. IFP Advisors Inc now owns 4,198 shares of the company’s stock worth $200,000 after buying an additional 1,303 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Republic Services during the second quarter worth $216,000. Reynolds Capital Management LLC bought a new position in shares of Republic Services during the first quarter worth $210,000. Finally, ING Groep NV bought a new position in shares of Republic Services during the first quarter worth $261,000. Hedge funds and other institutional investors own 61.01% of the company’s stock.
Shares of Republic Services Inc. (NYSE:RSG) traded down 0.46% during mid-day trading on Friday, hitting $49.49. 1,296,313 shares of the stock were exchanged. The company has a market cap of $16.97 billion, a P/E ratio of 23.78 and a beta of 0.54. The stock’s 50-day moving average price is $50.62 and its 200-day moving average price is $49.54. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $52.92.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Republic Services Inc. will post $2.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Republic Services’s previous quarterly dividend of $0.30. Republic Services’s payout ratio is presently 61.84%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, June 29th. Barclays PLC increased their price objective on shares of Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Macquarie assumed coverage on shares of Republic Services in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective on the stock. Finally, Imperial Capital increased their price objective on shares of Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Republic Services currently has an average rating of “Buy” and an average target price of $51.90.
In other Republic Services news, insider Donald W. Slager sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total transaction of $1,309,620.00. Following the sale, the insider now owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
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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