Republic Services, Inc. (RSG) Shares Bought by Evercore Wealth Management LLC
Evercore Wealth Management LLC boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 48.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,593 shares of the business services provider’s stock after purchasing an additional 521 shares during the quarter. Evercore Wealth Management LLC’s holdings in Republic Services were worth $102,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UBS Asset Management Americas Inc. raised its stake in shares of Republic Services by 13.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,067,896 shares of the business services provider’s stock worth $67,075,000 after buying an additional 125,081 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Republic Services by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,858 shares of the business services provider’s stock valued at $305,000 after acquiring an additional 154 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Republic Services during the 1st quarter valued at about $3,970,000. JPMorgan Chase & Co. increased its holdings in Republic Services by 3.2% during the 1st quarter. JPMorgan Chase & Co. now owns 6,421,842 shares of the business services provider’s stock valued at $403,356,000 after acquiring an additional 198,679 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Republic Services during the 1st quarter valued at about $242,000. Institutional investors own 60.57% of the company’s stock.
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Republic Services, Inc. (NYSE:RSG) opened at 66.06 on Monday. Republic Services, Inc. has a 12 month low of $49.18 and a 12 month high of $67.18. The firm has a market capitalization of $22.25 billion, a PE ratio of 33.91 and a beta of 0.60. The firm’s 50-day moving average is $64.99 and its 200-day moving average is $63.81.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts expect that Republic Services, Inc. will post $2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.345 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.09%. Republic Services’s payout ratio is presently 70.77%.
In other Republic Services news, insider Donald W. Slager sold 22,608 shares of Republic Services stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.05, for a total value of $1,493,258.40. Following the completion of the sale, the insider now directly owns 246,617 shares in the company, valued at $16,289,052.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the sale, the executive vice president now owns 428 shares of the company’s stock, valued at $28,462. The disclosure for this sale can be found here. Insiders sold 43,187 shares of company stock worth $2,854,922 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.
RSG has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BMO Capital Markets assumed coverage on Republic Services in a research note on Thursday, June 29th. They issued an “outperform” rating and a $71.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. Barclays PLC reiterated a “neutral” rating on shares of Republic Services in a report on Friday, July 28th. Finally, Credit Suisse Group set a $69.00 price target on Republic Services and gave the stock a “hold” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $71.88.
About Republic Services
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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