Commonwealth Bank of Australia Has $2.59 Million Position in Republic Services, Inc. (RSG)

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.

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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.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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