Silvant Capital Management LLC Invests $5.81 Million in Republic Services (RSG)
Silvant Capital Management LLC purchased a new position in Republic Services (NYSE:RSG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 87,200 shares of the business services provider’s stock, valued at approximately $5,805,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. SeaCrest Wealth Management LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at $121,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Republic Services by 507.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 1,523 shares during the period. Signaturefd LLC purchased a new stake in shares of Republic Services in the first quarter valued at $149,000. Tower Research Capital LLC TRC grew its position in shares of Republic Services by 1,070.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 2,686 shares during the period. Finally, Focused Wealth Management Inc purchased a new stake in shares of Republic Services in the fourth quarter valued at $199,000. 61.50% of the stock is owned by institutional investors.
In other Republic Services news, Director Tomago Collins sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $67.95, for a total transaction of $305,775.00. Following the completion of the sale, the director now owns 13,441 shares of the company’s stock, valued at $913,315.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ark Jon Vander sold 9,236 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $68.45, for a total value of $632,204.20. Following the sale, the chief operating officer now directly owns 12,011 shares of the company’s stock, valued at approximately $822,152.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,854 shares of company stock valued at $1,743,880. 0.30% of the stock is owned by company insiders.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. Republic Services had a return on equity of 11.29% and a net margin of 13.18%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts anticipate that Republic Services will post 3.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, June 29th. Republic Services’s dividend payout ratio (DPR) is presently 56.79%.
RSG has been the subject of a number of recent analyst reports. Argus raised Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, May 10th. UBS initiated coverage on Republic Services in a research report on Wednesday, March 14th. They issued a “buy” rating and a $78.00 price objective for the company. Bank of America lifted their price objective on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Monday, January 22nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a research report on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $72.14.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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