Commonwealth Bank of Australia decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,692 shares of the business services provider’s stock after selling 1,738 shares during the quarter. Commonwealth Bank of Australia’s holdings in Republic Services were worth $2,592,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of RSG. BlackRock Inc. increased its stake in Republic Services by 2,800.0% during the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after acquiring an additional 18,401,448 shares during the last quarter. Vanguard Group Inc. increased its stake in Republic Services by 6.1% during the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after acquiring an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC increased its stake in Republic Services by 329.6% during the first quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock worth $54,959,000 after acquiring an additional 671,300 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Republic Services during the first quarter worth $39,751,000. Finally, State Street Corp increased its stake in Republic Services by 4.5% during the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after acquiring an additional 501,491 shares during the last quarter. 60.59% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Commonwealth Bank of Australia Has $2.59 Million Position in Republic Services, Inc. (RSG)” was originally posted by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/2886424/commonwealth-bank-of-australia-has-2-59-million-position-in-republic-services-inc-rsg.html.
Shares of Republic Services, Inc. (NYSE RSG) opened at 66.28 on Tuesday. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $66.28. The stock has a 50 day moving average price of $64.59 and a 200-day moving average price of $63.58. The firm has a market capitalization of $22.32 billion, a PE ratio of 34.02 and a beta of 0.60.
Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio is presently 65.64%.
RSG has been the subject of several recent analyst reports. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, June 16th. Stifel Nicolaus reissued a “buy” rating and set a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. Credit Suisse Group set a $69.00 target price on Republic Services and gave the stock a “hold” rating in a research note on Saturday, July 29th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $71.88.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).
Receive News & Ratings for Republic Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.