SL Advisors LLC Invests $909,000 in Republic Services Inc. (RSG)
SL Advisors LLC acquired a new stake in Republic Services Inc. (NYSE:RSG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,720 shares of the company’s stock, valued at approximately $909,000.
Other institutional investors have also made changes to their positions in the company. Conning Inc. boosted its position in shares of Republic Services by 1.4% in the second quarter. Conning Inc. now owns 7,781 shares of the company’s stock valued at $399,000 after buying an additional 110 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Republic Services by 0.3% in the second quarter. Gulf International Bank UK Ltd now owns 72,995 shares of the company’s stock valued at $3,745,000 after buying an additional 250 shares in the last quarter. Advisor Partners LLC boosted its position in shares of Republic Services by 5.1% in the first quarter. Advisor Partners LLC now owns 5,744 shares of the company’s stock valued at $274,000 after buying an additional 277 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Republic Services by 4.3% in the second quarter. Sigma Planning Corp now owns 6,861 shares of the company’s stock valued at $352,000 after buying an additional 280 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in shares of Republic Services by 1.8% in the second quarter. DNB Asset Management AS now owns 22,783 shares of the company’s stock valued at $1,169,000 after buying an additional 400 shares in the last quarter. 61.01% of the stock is currently owned by institutional investors.
Republic Services Inc. (NYSE:RSG) traded down 0.26% during mid-day trading on Friday, hitting $49.59. 684,579 shares of the company traded hands. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 23.83 and a beta of 0.54. Republic Services Inc. has a one year low of $41.82 and a one year high of $52.92. The company’s 50-day moving average price is $50.62 and its 200 day moving average price is $49.54.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm earned $2.35 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Republic Services had a return on equity of 9.21% and a net margin of 7.85%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. On average, analysts anticipate that Republic Services Inc. will post $2.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.32 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, September 29th. Republic Services’s payout ratio is currently 61.84%.
Several brokerages have recently issued reports on RSG. Barclays PLC lifted their price objective on shares of Republic Services from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Zacks Investment Research cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Imperial Capital lifted their price objective on shares of Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Macquarie initiated coverage on shares of Republic Services in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $51.90.
In other Republic Services news, insider Donald W. Slager sold 26,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $50.37, for a total transaction of $1,309,620.00. Following the completion of the sale, the insider now directly owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.
About Republic Services
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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