Korea Investment CORP Has $5.67 Million Stake in Republic Services, Inc. (NYSE:RSG)
Korea Investment CORP raised its position in Republic Services, Inc. (NYSE:RSG) by 25.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,010 shares of the business services provider’s stock after buying an additional 17,890 shares during the period. Korea Investment CORP’s holdings in Republic Services were worth $5,673,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after buying an additional 18,401,448 shares during the period. Vanguard Group Inc. increased its position in shares of Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after buying an additional 1,086,931 shares during the period. Renaissance Technologies LLC increased its position in shares of Republic Services by 329.6% in the first quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock worth $54,959,000 after buying an additional 671,300 shares during the period. Wellington Management Group LLP acquired a new position in shares of Republic Services during the first quarter worth about $39,751,000. Finally, State Street Corp increased its position in shares of Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after buying an additional 501,491 shares during the period. 61.66% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (NYSE RSG) opened at 63.98 on Friday. The firm has a market cap of $21.55 billion, a PE ratio of 32.84 and a beta of 0.58. The firm’s 50-day moving average price is $64.37 and its 200-day moving average price is $62.64. Republic Services, Inc. has a one year low of $49.18 and a one year high of $65.54.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. Equities research analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.345 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 annualized dividend and a yield of 2.16%. Republic Services’s payout ratio is 65.64%.
A number of research firms recently weighed in on RSG. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, May 2nd. Barclays PLC restated a “hold” rating and issued a $59.00 price target on shares of Republic Services in a report on Friday, April 28th. BMO Capital Markets began coverage on Republic Services in a report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price target on the stock. Finally, Credit Suisse Group set a $69.00 price target on Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $69.78.
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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