Hilton Capital Management LLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 7.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 290,914 shares of the business services provider’s stock after buying an additional 20,671 shares during the period. Republic Services accounts for approximately 3.2% of Hilton Capital Management LLC’s holdings, making the stock its 6th biggest holding. Hilton Capital Management LLC’s holdings in Republic Services were worth $23,384,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC acquired a new position in shares of Republic Services during the first quarter worth approximately $238,000. GYL Financial Synergies LLC acquired a new position in shares of Republic Services during the first quarter worth approximately $288,000. Meiji Yasuda Life Insurance Co boosted its position in shares of Republic Services by 11.7% during the first quarter. Meiji Yasuda Life Insurance Co now owns 4,613 shares of the business services provider’s stock worth $371,000 after buying an additional 484 shares during the period. Andra AP fonden acquired a new position in shares of Republic Services during the first quarter worth approximately $5,353,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Republic Services by 1.9% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 58,242 shares of the business services provider’s stock worth $4,681,000 after buying an additional 1,070 shares during the period. 58.95% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on RSG shares. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research report on Monday, April 29th. Royal Bank of Canada started coverage on Republic Services in a research report on Wednesday, May 1st. They set a “sector perform” rating and a $87.00 price objective for the company. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. UBS Group boosted their price objective on Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, Bank of America reiterated a “neutral” rating and set a $85.00 price objective (up from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $81.97.
In other Republic Services news, CEO Donald W. Slager sold 69,966 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.66, for a total value of $5,783,389.56. Following the completion of the sale, the chief executive officer now directly owns 287,610 shares in the company, valued at $23,773,842.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ark Jon Vander sold 19,278 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $82.33, for a total value of $1,587,157.74. The disclosure for this sale can be found here. Insiders sold 151,575 shares of company stock valued at $12,472,125 over the last 90 days. 0.30% of the stock is currently owned by insiders.
RSG traded up $0.28 during trading on Friday, reaching $86.48. The stock had a trading volume of 12,588 shares, compared to its average volume of 986,268. The company has a market capitalization of $27.92 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.42 and a quick ratio of 0.42. Republic Services, Inc. has a 1-year low of $67.48 and a 1-year high of $87.49.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 25th. The business services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.50 billion. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. Equities analysts expect that Republic Services, Inc. will post 3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.50 dividend on an annualized basis and a yield of 1.73%. Republic Services’s dividend payout ratio (DPR) is 48.54%.
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About Republic Services
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.
Further Reading: Cost of Capital
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