Rothschild Asset Management Inc. decreased its position in Republic Services, Inc. (NYSE:RSG) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,229 shares of the business services provider’s stock after selling 482 shares during the period. Rothschild Asset Management Inc.’s holdings in Republic Services were worth $779,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC bought a new stake in Republic Services during the first quarter worth $121,000. Whittier Trust Co. of Nevada Inc. increased its stake in Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after buying an additional 1,078 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in Republic Services during the first quarter worth $203,000. Fox Run Management L.L.C. bought a new stake in Republic Services during the first quarter worth $204,000. Finally, Pillar Pacific Capital Management LLC bought a new stake in Republic Services during the first quarter worth $205,000. 61.66% of the stock is owned by institutional investors and hedge funds.
Republic Services, Inc. (NYSE:RSG) opened at 64.38 on Thursday. Republic Services, Inc. has a 12-month low of $49.18 and a 12-month high of $65.54. The firm has a market cap of $21.68 billion, a P/E ratio of 33.05 and a beta of 0.58. The firm has a 50-day moving average of $64.36 and a 200-day moving average of $62.58.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. On average, analysts expect that Republic Services, Inc. will post $2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.345 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. This represents a $1.38 annualized dividend and a yield of 2.14%. Republic Services’s dividend payout ratio (DPR) is currently 65.64%.
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RSG has been the subject of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $73.00 price target on shares of Republic Services in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Friday, July 14th. Credit Suisse Group set a $63.00 price target on shares of Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. Finally, Barclays PLC reissued a “hold” rating and set a $59.00 price target on shares of Republic Services in a research report on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.78.
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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