Legacy Capital Partners Inc. Has $1.42 Million Holdings in Republic Services, Inc. (RSG)
Legacy Capital Partners Inc. lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,050 shares of the business services provider’s stock after selling 1,600 shares during the period. Legacy Capital Partners Inc.’s holdings in Republic Services were worth $1,423,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RSG. SeaCrest Wealth Management LLC acquired a new position in shares of Republic Services during the 4th quarter worth approximately $121,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Republic Services by 507.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock worth $123,000 after acquiring an additional 1,523 shares in the last quarter. Welch & Forbes LLC acquired a new stake in shares of Republic Services during the 4th quarter worth approximately $201,000. Cetera Investment Advisers acquired a new stake in shares of Republic Services during the 2nd quarter worth approximately $211,000. Finally, Advisory Services Network LLC boosted its position in shares of Republic Services by 6.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 59.57% of the company’s stock.
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 value of $6,299,093.08. Following the sale, the chief executive officer now owns 322,541 shares in the company, valued at $20,703,906.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald W. Slager sold 32,421 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were 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. Insiders sold 137,063 shares of company stock worth $8,816,258 in the last 90 days. Company insiders own 0.40% of the company’s stock.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.71%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. analysts forecast that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.
Republic Services announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a $0.345 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.23%. Republic Services’s dividend payout ratio is currently 36.41%.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. BMO Capital Markets reduced their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Credit Suisse Group reduced their price target on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. Finally, Bank of America increased their price target on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Republic Services presently has an average rating of “Hold” and an average target price of $69.00.
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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