Twin Capital Management Inc. reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,310 shares of the business services provider’s stock after selling 430 shares during the period. Twin Capital Management Inc.’s holdings in Republic Services were worth $6,456,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new stake in shares of Republic Services during the first quarter valued at about $204,000. DnB Asset Management AS raised its stake in shares of Republic Services by 29.9% in the first quarter. DnB Asset Management AS now owns 31,683 shares of the business services provider’s stock valued at $1,990,000 after buying an additional 7,300 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Republic Services by 0.8% in the first quarter. Retirement Systems of Alabama now owns 234,954 shares of the business services provider’s stock valued at $14,757,000 after buying an additional 1,903 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Republic Services by 2.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,347 shares of the business services provider’s stock valued at $373,000 after buying an additional 177 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Republic Services by 0.6% in the first quarter. Sigma Planning Corp now owns 7,332 shares of the business services provider’s stock valued at $461,000 after buying an additional 43 shares during the last quarter. Institutional investors own 61.33% of the company’s stock.
Republic Services, Inc. (NYSE RSG) traded down 0.42% on Wednesday, hitting $64.58. 40,256 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $64.44 and a 200-day moving average price of $63.01. Republic Services, Inc. has a 12 month low of $49.18 and a 12 month high of $65.54. The stock has a market cap of $21.75 billion, a P/E ratio of 33.15 and a beta of 0.58.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The company 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%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.345 per share. The ex-dividend date is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.13%. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s payout ratio is 65.64%.
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RSG has been the subject of several research analyst reports. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Barclays PLC reiterated a “hold” rating and set a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Friday, July 14th. BMO Capital Markets lifted their target price on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. One equities research 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. The company has a consensus rating of “Hold” and a consensus 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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