Republic Services, Inc. (NYSE:RSG) Director Ramon A. Rodriguez sold 8,118 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $66.62, for a total value of $540,821.16. Following the completion of the sale, the director now directly owns 4,118 shares of the company’s stock, valued at $274,341.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Republic Services, Inc. (NYSE RSG) traded up $0.06 during trading hours on Tuesday, reaching $67.05. The company’s stock had a trading volume of 1,872,372 shares, compared to its average volume of 1,670,000. The company has a market cap of $22,210.00, a P/E ratio of 17.74, a PEG ratio of 2.11 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55. Republic Services, Inc. has a 52-week low of $60.26 and a 52-week high of $69.40.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. sell-side analysts forecast that Republic Services, Inc. will post 3.08 EPS for the current year.
Republic Services declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
RSG has been the subject of a number of analyst reports. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Credit Suisse Group lowered their price target on Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. BMO Capital Markets lowered their price target on Republic Services from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $73.00 in a research report on Thursday, January 4th. Finally, Bank of America increased their price target on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Republic Services presently has an average rating of “Hold” and an average price target of $68.57.
A number of large investors have recently made changes to their positions in the business. Chemical Bank bought a new position in Republic Services in the 4th quarter valued at $346,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Republic Services by 25.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,361 shares of the business services provider’s stock worth $362,000 after acquiring an additional 1,101 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Republic Services by 10.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 22,218 shares of the business services provider’s stock worth $1,502,000 after acquiring an additional 2,042 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Republic Services by 6.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 302,185 shares of the business services provider’s stock worth $20,430,000 after acquiring an additional 17,735 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Republic Services by 0.7% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 178,873 shares of the business services provider’s stock worth $12,094,000 after acquiring an additional 1,313 shares during the period. Hedge funds and other institutional investors own 60.31% of the company’s stock.
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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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