Stifel Financial Corp Buys 2,350 Shares of Republic Services, Inc. (RSG)
Stifel Financial Corp grew its stake in Republic Services, Inc. (NYSE:RSG) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,257 shares of the business services provider’s stock after buying an additional 2,350 shares during the period. Stifel Financial Corp’s holdings in Republic Services were worth $6,764,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of RSG. BlackRock Inc. increased its stake in shares of 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 buying an additional 18,401,448 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 1,086,931 shares during the period. Renaissance Technologies LLC increased its stake in shares of Republic Services by 89.0% in the second quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock valued at $105,397,000 after buying an additional 778,800 shares during the period. Wellington Management Group LLP acquired a new stake in Republic Services during the first quarter worth approximately $39,751,000. Finally, State Street Corp grew its stake in Republic Services by 4.5% during the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after purchasing an additional 501,491 shares during the period. 60.57% of the stock is owned by institutional investors.
In related news, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total value of $940,785.00. Following the sale, the executive vice president now owns 8,007 shares in the company, valued at approximately $528,622.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction that occurred 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 owns 428 shares in the company, valued at approximately $28,462. The disclosure for this sale can be found here. Insiders sold a total of 43,187 shares of company stock worth $2,854,922 in the last 90 days. 0.40% of the stock is currently owned by company insiders.
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Republic Services, Inc. (NYSE:RSG) opened at 63.18 on Friday. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 32.43 and a beta of 0.60. The stock 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 quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. On average, analysts predict 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. Investors of record on Monday, October 2nd will be paid a $0.345 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.18%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is presently 70.77%.
Several equities research analysts recently commented on RSG shares. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, July 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. BMO Capital Markets started coverage on Republic Services in a research note on Thursday, June 29th. They set an “outperform” rating and a $71.00 target price for the company. Finally, Credit Suisse Group set a $69.00 target price on Republic Services and gave the stock a “hold” rating in a research note on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Republic Services currently has a consensus rating of “Hold” and an average price target of $71.33.
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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