Republic Services Inc. (RSG) Trading Up 1.6%
Republic Services Inc. (NYSE:RSG) shares were up 1.6% during mid-day trading on Wednesday . The stock traded as high as $50.97 and last traded at $50.92, with a volume of 1,103,935 shares traded. The stock had previously closed at $50.10.
Several research analysts have recently issued reports on RSG shares. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 29th. Bank of America Corp. reissued a “buy” rating on shares of Republic Services in a research report on Monday, April 25th. Argus started coverage on Republic Services in a research report on Wednesday, May 18th. They issued a “hold” rating and a $50.00 target price for the company. Oppenheimer Holdings Inc. started coverage on Republic Services in a research report on Wednesday, May 4th. They issued a “market perform” rating for the company. Finally, Imperial Capital increased their target price on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Republic Services has an average rating of “Buy” and an average price target of $51.56.
The firm has a market cap of $17.52 billion and a price-to-earnings ratio of 24.56. The company’s 50 day moving average is $51.72 and its 200 day moving average is $48.38.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.38 billion. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Analysts anticipate that Republic Services Inc. will post $2.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.32 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.28 annualized dividend and a dividend yield of 2.50%.
In related news, EVP Michael P. Rissman sold 61,768 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $49.41, for a total value of $3,051,956.88. Following the completion of the transaction, the executive vice president now owns 37,552 shares of the company’s stock, valued at $1,855,444.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian A. Goebel sold 1,695 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $52.10, for a total transaction of $88,309.50. Following the completion of the transaction, the chief accounting officer now directly owns 6,391 shares of the company’s stock, valued at approximately $332,971.10. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the company. Advantus Capital Management Inc increased its position in shares of Republic Services by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 23,073 shares of the company’s stock worth $1,015,000 after buying an additional 582 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Republic Services by 5.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 32,384 shares of the company’s stock worth $1,425,000 after buying an additional 1,573 shares during the period. KBC Group NV increased its position in shares of Republic Services by 67.6% in the fourth quarter. KBC Group NV now owns 54,456 shares of the company’s stock worth $2,396,000 after buying an additional 21,957 shares during the period. Marshall Wace LLP acquired a new position in shares of Republic Services during the fourth quarter worth approximately $3,024,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Republic Services by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,592,260 shares of the company’s stock worth $202,033,000 after buying an additional 83,832 shares during the period.
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells.
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