Kiwi Wealth Investments Limited Partnership lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 167,560 shares of the business services provider’s stock after selling 5,355 shares during the quarter. Republic Services accounts for approximately 1.1% of Kiwi Wealth Investments Limited Partnership’s portfolio, making the stock its 26th biggest position. Kiwi Wealth Investments Limited Partnership’s holdings in Republic Services were worth $11,454,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its holdings in Republic Services by 11.5% in the first quarter. Daiwa Securities Group Inc. now owns 7,776 shares of the business services provider’s stock worth $515,000 after buying an additional 800 shares during the period. Mackay Shields LLC purchased a new stake in Republic Services in the first quarter worth about $2,534,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Republic Services by 115.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 146,039 shares of the business services provider’s stock worth $9,672,000 after buying an additional 78,352 shares during the period. Stephens Inc. AR lifted its holdings in Republic Services by 17.0% in the first quarter. Stephens Inc. AR now owns 12,763 shares of the business services provider’s stock worth $845,000 after buying an additional 1,851 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Republic Services in the first quarter worth about $368,000. 61.43% of the stock is owned by institutional investors and hedge funds.
RSG has been the subject of several research analyst reports. Argus upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, May 10th. Bank of America raised their price objective on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, August 17th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. Finally, BMO Capital Markets raised their price objective on shares of Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a report on Thursday, August 16th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $74.29.
Shares of NYSE RSG opened at $74.40 on Friday. Republic Services, Inc. has a fifty-two week low of $60.26 and a fifty-two week high of $74.78. The company has a market cap of $24.07 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.57. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.05.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 26th. The business services provider reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. Republic Services had a net margin of 13.51% and a return on equity of 11.65%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. sell-side analysts anticipate that Republic Services, Inc. will post 3.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a dividend of $0.375 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.02%. Republic Services’s dividend payout ratio (DPR) is currently 56.79%.
In other Republic Services news, CFO Charles F. Serianni sold 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $70.00, for a total transaction of $665,000.00. Following the completion of the transaction, the chief financial officer now owns 46,143 shares of the company’s stock, valued at $3,230,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald W. Slager sold 225,734 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $73.02, for a total transaction of $16,483,096.68. Following the transaction, the insider now directly owns 378,023 shares of the company’s stock, valued at approximately $27,603,239.46. The disclosure for this sale can be found here. Insiders have sold 326,568 shares of company stock valued at $23,819,132 in the last ninety days. Insiders own 0.30% of the company’s stock.
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; supply of waste containers; and renting of compactors.
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