Republic Services, Inc. (RSG) Shares Sold by Zurich Insurance Group Ltd FI
Zurich Insurance Group Ltd FI cut its holdings in Republic Services, Inc. (NYSE:RSG) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,982 shares of the business services provider’s stock after selling 844 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Republic Services were worth $1,974,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Fund Management S.A. purchased a new position in Republic Services in the 2nd quarter worth approximately $12,536,000. Dearborn Partners LLC raised its holdings in shares of Republic Services by 3.4% during the 2nd quarter. Dearborn Partners LLC now owns 451,059 shares of the business services provider’s stock worth $28,746,000 after acquiring an additional 14,701 shares in the last quarter. Dynamic Capital Management Ltd purchased a new stake in shares of Republic Services during the 1st quarter worth approximately $1,947,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Republic Services by 1.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 47,622 shares of the business services provider’s stock worth $2,991,000 after acquiring an additional 680 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Republic Services by 1.6% during the 2nd quarter. Swiss National Bank now owns 1,869,648 shares of the business services provider’s stock worth $119,153,000 after acquiring an additional 28,600 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors.
RSG has been the topic of several recent research reports. Credit Suisse Group set a $69.00 price objective on Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a report on Thursday, August 24th. Bank of America Corporation decreased their price objective on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Finally, Stifel Nicolaus cut Republic Services from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $76.00 to $70.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.33.
In other news, EVP Jeffrey A. Hughes sold 6,329 shares of Republic Services stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at $28,462. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald W. Slager sold 22,608 shares of Republic Services stock in a transaction 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 of the company’s stock, valued at $16,289,052.85. 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. Company insiders own 0.40% of the company’s stock.
Republic Services, Inc. (NYSE RSG) opened at 63.18 on Friday. The company has a market cap of $21.28 billion, a P/E ratio of 32.43 and a beta of 0.60. The firm has a 50-day moving average price of $65.45 and a 200 day moving average price of $64.07. Republic Services, Inc. has a 12 month low of $49.18 and a 12 month high of $67.18.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts predict that Republic Services, Inc. will post $2.39 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.18%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s payout ratio is currently 70.77%.
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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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