Gamco Investors INC. ET AL Raises Position in Republic Services, Inc. (RSG)
Gamco Investors INC. ET AL increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,663,050 shares of the business services provider’s stock after purchasing an additional 7,903 shares during the quarter. Republic Services makes up approximately 1.1% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 14th largest position. Gamco Investors INC. ET AL owned about 0.79% of Republic Services worth $175,921,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of RSG. Evercore Wealth Management LLC grew its holdings in Republic Services by 48.6% in the 2nd quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after buying an additional 521 shares in the last quarter. Sun Life Financial INC grew its holdings in Republic Services by 20,900.0% in the 2nd quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,672 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in Republic Services in the 2nd quarter valued at $141,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Republic Services by 59.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in Republic Services in the 2nd quarter valued at $191,000. Institutional investors own 60.71% of the company’s stock.
Shares of Republic Services, Inc. (NYSE RSG) traded down $0.13 during trading on Monday, hitting $63.77. The stock had a trading volume of 765,806 shares, compared to its average volume of 1,279,167. The firm has a market cap of $21,356.95, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. research analysts forecast that Republic Services, Inc. will post 2.37 earnings per share for the current year.
Republic Services declared that its board has initiated a stock buyback program on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.16%. Republic Services’s dividend payout ratio (DPR) is presently 58.47%.
Several analysts have issued reports on RSG shares. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Republic Services in a report on Wednesday, July 19th. 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 report on Friday, July 14th. BMO Capital Markets restated a “buy” rating and issued a $72.00 target price on shares of Republic Services in a report on Friday, October 13th. Bank of America Corporation dropped their target price on Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Finally, KeyCorp restated a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $68.29.
In other news, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.02, for a total value of $940,785.00. Following the transaction, the executive vice president now owns 8,007 shares of the company’s stock, valued at approximately $528,622.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,187 shares of company stock worth $2,854,922. Corporate insiders own 0.40% of the company’s stock.
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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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