Chevy Chase Trust Holdings Inc. Has $12.65 Million Position in Republic Services, Inc. (RSG)
Chevy Chase Trust Holdings Inc. lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,479 shares of the business services provider’s stock after selling 743 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Republic Services were worth $12,649,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Washington Trust Bank increased its position in Republic Services by 1.1% in the first quarter. Washington Trust Bank now owns 86,210 shares of the business services provider’s stock worth $5,415,000 after buying an additional 945 shares in the last quarter. Cribstone Capital Management LLC purchased a new position in Republic Services during the first quarter worth approximately $121,000. Fox Run Management L.L.C. purchased a new position in Republic Services during the first quarter worth approximately $204,000. TNB Financial purchased a new position in Republic Services during the first quarter worth approximately $277,000. Finally, Capstone Asset Management Co. increased its position in Republic Services by 9.5% in the first quarter. Capstone Asset Management Co. now owns 38,314 shares of the business services provider’s stock worth $2,407,000 after buying an additional 3,340 shares in the last quarter. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Shares of Republic Services, Inc. (NYSE:RSG) opened at 64.64 on Tuesday. The company’s 50-day moving average price is $63.52 and its 200 day moving average price is $61.11. Republic Services, Inc. has a 12-month low of $49.18 and a 12-month high of $65.34. The stock has a market cap of $21.85 billion, a price-to-earnings ratio of 34.38 and a beta of 0.59.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.36 billion. Republic Services had a return on equity of 10.18% and a net margin of 6.75%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, equities analysts predict that Republic Services, Inc. will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, June 29th. Republic Services’s dividend payout ratio (DPR) is currently 68.45%.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded 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, June 16th. BMO Capital Markets initiated coverage on Republic Services in a report on Thursday, June 29th. They set an “outperform” rating and a $71.00 price target on the stock. Credit Suisse Group set a $63.00 price target on Republic Services and gave the company a “hold” rating in a report on Sunday, April 30th. Barclays PLC restated a “hold” rating and set a $59.00 price target on shares of Republic Services in a report on Friday, April 28th. Finally, Wedbush increased their price target on Republic Services from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, March 30th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Republic Services currently has a consensus rating of “Hold” and a consensus price target of $67.00.
Republic Services Company Profile
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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