Republic Services, Inc. (RSG) Position Lowered by Morgan Dempsey Capital Management LLC
Morgan Dempsey Capital Management LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,785 shares of the business services provider’s stock after selling 190 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Republic Services were worth $305,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of RSG. Cribstone Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter valued at approximately $121,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Republic Services by 59.1% in the second 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 during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Republic Services during the first quarter valued at approximately $203,000. Fox Run Management L.L.C. purchased a new stake in shares of Republic Services during the first quarter valued at approximately $204,000. Finally, Pillar Pacific Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 61.66% of the company’s stock.
Shares of Republic Services, Inc. (RSG) opened at 64.08 on Friday. The stock has a market capitalization of $21.58 billion, a PE ratio of 32.90 and a beta of 0.58. Republic Services, Inc. has a one year low of $49.18 and a one year high of $65.54. The firm has a 50-day moving average price of $64.36 and a 200 day moving average price of $62.59.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. Republic Services’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts expect that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The business 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 dividend of $0.345 per share. This is an increase 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 2.15%. Republic Services’s dividend payout ratio (DPR) is presently 65.64%.
RSG has been the subject of several research reports. Barclays PLC reiterated a “hold” rating and set a $59.00 price target on shares of Republic Services in a research report on Friday, April 28th. Credit Suisse Group set a $63.00 price target on Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets initiated coverage on Republic Services in a research report on Thursday, June 29th. They set an “outperform” rating and a $71.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Republic Services has a consensus 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.
Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).
Receive News & Ratings for Republic Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.