Colony Group LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,031 shares of the business services provider’s stock after selling 1,192 shares during the quarter. Colony Group LLC’s holdings in Republic Services were worth $2,395,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. lifted its position in shares of Republic Services by 531.6% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock worth $124,000 after purchasing an additional 1,531 shares during the period. Signaturefd LLC acquired a new position in shares of Republic Services in the 1st quarter worth approximately $149,000. Piedmont Investment Advisors LLC acquired a new position in shares of Republic Services in the 2nd quarter worth approximately $178,000. Bradley Foster & Sargent Inc. CT acquired a new position in shares of Republic Services in the 2nd quarter worth approximately $203,000. Finally, Checchi Capital Advisers LLC bought a new stake in shares of Republic Services in the 2nd quarter valued at $209,000. 60.69% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Donald W. Slager sold 91,334 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $73.04, for a total value of $6,671,035.36. Following the transaction, the chief executive officer now directly owns 378,023 shares in the company, valued at $27,610,799.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles F. Serianni sold 9,500 shares of the stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $70.00, for a total transaction of $665,000.00. Following the transaction, the chief financial officer now owns 46,143 shares in the company, valued at $3,230,010. The disclosure for this sale can be found here. Over the last three months, insiders sold 326,568 shares of company stock worth $23,819,132. Insiders own 0.30% of the company’s stock.
Shares of NYSE:RSG traded up $0.54 during midday trading on Friday, reaching $72.17. The company had a trading volume of 822,444 shares, compared to its average volume of 1,530,944. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $23.64 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.23 and a beta of 0.57. Republic Services, Inc. has a 52-week low of $60.26 and a 52-week high of $75.82.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.73 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.53 billion. Republic Services had a net margin of 13.51% and a return on equity of 11.65%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 3.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Republic Services’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 28th. Republic Services’s dividend payout ratio is presently 61.73%.
Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Bank of America boosted their price target on shares of Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, August 17th. BMO Capital Markets boosted their price target on shares of Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research note on Thursday, August 16th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Republic Services has an average rating of “Buy” and an average price target of $75.00.
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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