Gyroscope Capital Management Group LLC Takes $322,000 Position in Republic Services, Inc. (RSG)
Gyroscope Capital Management Group LLC bought a new stake in Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,876 shares of the business services provider’s stock, valued at approximately $322,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Patten Group Inc. boosted its stake in shares of Republic Services by 279.6% in the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 13,839 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 223 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Republic Services in the 2nd quarter valued at approximately $12,536,000. Royal Bank of Canada boosted its stake in shares of Republic Services by 11.0% in the 2nd quarter. Royal Bank of Canada now owns 1,230,173 shares of the business services provider’s stock valued at $78,399,000 after purchasing an additional 121,632 shares in the last quarter. Finally, Dearborn Partners LLC boosted its stake in shares of Republic Services by 3.4% in the 2nd quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock valued at $28,746,000 after purchasing an additional 14,701 shares in the last quarter. 60.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on RSG shares. BMO Capital Markets restated a “buy” rating and issued a $72.00 price target on shares of Republic Services in a research note on Friday, October 13th. Bank of America reduced their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Oppenheimer reiterated a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Republic Services in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.71.
Republic Services, Inc. (RSG) traded up $0.34 during trading hours on Thursday, reaching $65.14. 1,475,700 shares of the company traded hands, compared to its average volume of 1,142,642. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Republic Services, Inc. has a twelve month low of $56.17 and a twelve month high of $67.18. The firm has a market cap of $21,656.08, a P/E ratio of 27.00, a PEG ratio of 3.19 and a beta of 0.60.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the company earned $0.62 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. equities analysts predict that Republic Services, Inc. will post 2.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.345 per share. The ex-dividend date is Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.12%. Republic Services’s dividend payout ratio is presently 58.47%.
Republic Services declared that its board has initiated a stock repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Republic Services news, CEO Donald W. Slager sold 98,132 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the completion of the transaction, the chief executive officer now owns 322,541 shares in the company, valued at approximately $20,703,906.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 32,421 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $64.00, for a total transaction of $2,074,944.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,411 shares of company stock worth $10,808,080. 0.40% of the stock is owned by corporate insiders.
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Republic Services 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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