Allegis Investment Advisors LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,950 shares of the business services provider’s stock, valued at approximately $252,000.
Other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its position 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 in the last quarter. Pinnacle Financial Partners Inc. acquired a new position in Republic Services during the first quarter valued at approximately $203,000. Fox Run Management L.L.C. acquired a new position in Republic Services during the first quarter valued at approximately $204,000. Pillar Pacific Capital Management LLC acquired a new position in Republic Services during the first quarter valued at approximately $205,000. Finally, Tiedemann Wealth Management LLC acquired a new position in Republic Services during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Republic Services, Inc. (NYSE RSG) opened at 64.13 on Friday. The stock’s 50 day moving average price is $64.41 and its 200 day moving average price is $62.83. The stock has a market capitalization of $21.60 billion, a PE ratio of 32.92 and a beta of 0.58. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities research analysts forecast that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.345 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 annualized dividend and a yield of 2.15%. Republic Services’s payout ratio is currently 65.64%.
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RSG has been the subject of several research analyst reports. Barclays PLC reiterated a “hold” rating and set a $59.00 target price on shares of Republic Services in a research note on Friday, April 28th. Credit Suisse Group set a $63.00 target price on Republic Services and gave the company a “hold” rating in a research note on Sunday, April 30th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, May 2nd. Finally, BMO Capital Markets initiated coverage on Republic Services in a research note on Thursday, June 29th. They set an “outperform” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $69.78.
Republic Services Company Profile
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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