Republic Services, Inc. (RSG) Shares Sold by Schroder Investment Management Group
Schroder Investment Management Group decreased its position in Republic Services, Inc. (NYSE:RSG) by 86.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,443 shares of the business services provider’s stock after selling 188,531 shares during the quarter. Schroder Investment Management Group’s holdings in Republic Services were worth $1,862,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its position in 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 valued at $1,197,070,000 after purchasing an additional 18,401,448 shares during the period. Vanguard Group Inc. raised its position in 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 valued at $1,180,588,000 after purchasing an additional 1,086,931 shares during the period. State Street Corp raised its position in 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 valued at $731,866,000 after purchasing an additional 501,491 shares during the period. JPMorgan Chase & Co. raised its position in Republic Services by 6.0% in the second quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock valued at $434,002,000 after purchasing an additional 388,147 shares during the period. Finally, Janus Capital Management LLC raised its position in Republic Services by 0.7% in the first quarter. Janus Capital Management LLC now owns 3,175,770 shares of the business services provider’s stock valued at $199,470,000 after purchasing an additional 23,038 shares during the period. 60.57% of the stock is currently owned by institutional investors.
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In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total transaction of $420,878.50. Following the sale, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.
A number of research firms have recently weighed in on RSG. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Friday, July 14th. KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a research report on Thursday, August 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. BMO Capital Markets began coverage on Republic Services in a research report on Thursday, June 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Finally, Credit Suisse Group set a $69.00 price objective 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 assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $71.88.
Shares of Republic Services, Inc. (NYSE:RSG) opened at 66.26 on Friday. The stock’s 50 day moving average price is $64.99 and its 200-day moving average price is $63.81. Republic Services, Inc. has a 52-week low of $49.18 and a 52-week high of $66.98. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 34.01 and a beta of 0.60.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $2.53 billion for 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 company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. On average, analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.345 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is presently 65.64%.
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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