Valmark Advisers Inc. bought a new position in Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,807 shares of the business services provider’s stock, valued at approximately $204,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Nova Scotia boosted its holdings in shares of Republic Services by 75.8% in the second quarter. Bank of Nova Scotia now owns 52,048 shares of the business services provider’s stock worth $3,559,000 after buying an additional 22,438 shares during the period. BP PLC acquired a new position in shares of Republic Services in the second quarter worth about $1,914,000. Argent Trust Co acquired a new position in shares of Republic Services in the second quarter worth about $485,000. Van ECK Associates Corp boosted its holdings in shares of Republic Services by 2.5% in the second quarter. Van ECK Associates Corp now owns 32,800 shares of the business services provider’s stock worth $2,242,000 after buying an additional 801 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Republic Services by 11.7% in the second quarter. Bank of America Corp DE now owns 8,681,132 shares of the business services provider’s stock worth $593,441,000 after buying an additional 909,717 shares during the period. Institutional investors own 60.89% of the company’s stock.
Several brokerages have commented on RSG. Bank of America cut shares of Republic Services from a “buy” rating to a “neutral” rating and set a $74.00 target price for the company. in a report on Wednesday, October 24th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus increased their price target on shares of Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. BMO Capital Markets increased their price target on shares of Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a research report on Thursday, August 16th. Finally, Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $73.71.
NYSE RSG opened at $71.96 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $23.25 billion, a PE ratio of 29.61, a P/E/G ratio of 2.18 and a beta of 0.54. Republic Services, Inc. has a 52-week low of $60.26 and a 52-week high of $75.82.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. Sell-side analysts predict that Republic Services, Inc. will post 3.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, December 31st. Republic Services’s dividend payout ratio (DPR) is 61.73%.
In other Republic Services news, Director Jennifer M. Kirk acquired 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were purchased at an average price of $72.35 per share, with a total value of $108,525.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $108,525. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Donald W. Slager sold 91,334 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $73.04, for a total transaction of $6,671,035.36. Following the transaction, the chief executive officer now directly owns 378,023 shares in the company, valued at approximately $27,610,799.92. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
Republic Services 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.
Recommended Story: How does inflation affect different investments?
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.