GCA Investment Management LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 32.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,200 shares of the business services provider’s stock after buying an additional 110,200 shares during the period. Republic Services comprises about 5.5% of GCA Investment Management LLC’s holdings, making the stock its largest position. GCA Investment Management LLC owned approximately 0.13% of Republic Services worth $28,691,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of RSG. First Citizens Bank & Trust Co. bought a new stake in Republic Services during the first quarter worth about $2,565,000. Buckhead Capital Management LLC raised its stake in Republic Services by 1.4% in the first quarter. Buckhead Capital Management LLC now owns 18,611 shares of the business services provider’s stock worth $1,169,000 after buying an additional 254 shares during the last quarter. Korea Investment CORP raised its stake in Republic Services by 483.8% in the first quarter. Korea Investment CORP now owns 71,120 shares of the business services provider’s stock worth $4,467,000 after buying an additional 58,937 shares during the last quarter. Sigma Planning Corp raised its stake in Republic Services by 0.6% in the first quarter. Sigma Planning Corp now owns 7,332 shares of the business services provider’s stock worth $461,000 after buying an additional 43 shares during the last quarter. Finally, OLD Dominion Capital Management Inc. raised its stake in Republic Services by 0.3% in the first quarter. OLD Dominion Capital Management Inc. now owns 24,758 shares of the business services provider’s stock worth $1,555,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Republic Services, Inc. (NYSE:RSG) opened at 63.89 on Friday. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 32.80 and a beta of 0.58. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $65.54. The firm has a 50-day moving average price of $64.43 and a 200-day moving average price of $62.88.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts anticipate that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.345 per share. The ex-dividend date is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 2.16%. Republic Services’s payout ratio is 65.64%.
RSG has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price objective on shares of Republic Services in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Friday, July 14th. Credit Suisse Group set a $63.00 price objective on Republic Services and gave the company a “hold” rating in a research note on Sunday, April 30th. Finally, Barclays PLC reiterated a “hold” rating and set a $59.00 price objective on shares of Republic Services in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Republic Services has an average rating of “Hold” and an average price target 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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