Executive Wealth Management LLC lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,504 shares of the business services provider’s stock after buying an additional 3,419 shares during the quarter. Executive Wealth Management LLC’s holdings in Republic Services were worth $3,856,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Republic Services by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock valued at $275,009,000 after purchasing an additional 324,355 shares during the period. FMR LLC lifted its position in Republic Services by 15.5% during the 4th quarter. FMR LLC now owns 70,362 shares of the business services provider’s stock valued at $5,072,000 after purchasing an additional 9,446 shares during the period. Sciencast Management LP acquired a new position in Republic Services during the 1st quarter valued at about $1,000,000. Pennsylvania Trust Co acquired a new position in Republic Services during the 1st quarter valued at about $357,000. Finally, American Research & Management Co. acquired a new position in Republic Services during the 1st quarter valued at about $80,000. 58.73% of the stock is owned by institutional investors.
In related news, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at $1,287,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Research analysts predict that Republic Services, Inc. will post 3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.405 dividend. The ex-dividend date is Monday, September 30th. This is a boost from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a dividend yield of 1.79%. Republic Services’s dividend payout ratio (DPR) is currently 48.54%.
A number of research firms have issued reports on RSG. Raymond James set a $93.00 target price on shares of Republic Services and gave the company an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. initiated coverage on shares of Republic Services in a research report on Wednesday, August 7th. They issued a “neutral” rating and a $94.00 price target on the stock. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America reiterated a “neutral” rating and issued a $85.00 price target (up from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.67.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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