Republic Services Inc. (RSG) Stake Decreased by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. reduced its position in shares of Republic Services Inc. (NYSE:RSG) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 27,234 shares of the company’s stock after selling 2,310 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Republic Services were worth $1,398,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in RSG. Prudential PLC raised its stake in Republic Services by 16.1% in the first quarter. Prudential PLC now owns 26,719 shares of the company’s stock worth $1,273,000 after buying an additional 3,700 shares in the last quarter. Geode Capital Management LLC raised its stake in Republic Services by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,082,515 shares of the company’s stock worth $99,046,000 after buying an additional 26,552 shares in the last quarter. Cleararc Capital Inc. raised its stake in Republic Services by 7.1% in the first quarter. Cleararc Capital Inc. now owns 34,173 shares of the company’s stock worth $1,628,000 after buying an additional 2,273 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Republic Services by 3.6% in the first quarter. Riverhead Capital Management LLC now owns 168,105 shares of the company’s stock worth $8,010,000 after buying an additional 5,815 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Republic Services by 2.3% in the first quarter. Primecap Management Co. CA now owns 392,935 shares of the company’s stock worth $18,723,000 after buying an additional 9,000 shares in the last quarter. 61.02% of the stock is currently owned by institutional investors.
Republic Services Inc. (NYSE:RSG) traded up 0.40% during trading on Tuesday, reaching $50.35. 341,020 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $50.35 and a 200 day moving average price of $49.63. Republic Services Inc. has a 1-year low of $41.82 and a 1-year high of $52.92. The stock has a market capitalization of $17.26 billion, a P/E ratio of 24.20 and a beta of 0.54.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 28th. The company reported $0.55 earnings per share 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 analyst estimates of $2.38 billion. Republic Services had a net margin of 7.85% and a return on equity of 9.21%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. Equities research analysts expect that Republic Services Inc. will post $2.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, October 3rd were issued a dividend of $0.32 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 29th. This represents a $1.28 annualized dividend and a dividend yield of 2.55%. Republic Services’s payout ratio is presently 61.84%.
A number of research firms have recently weighed in on RSG. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays PLC increased their target price on Republic Services from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Imperial Capital increased their target price on Republic Services from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Finally, Macquarie began coverage on Republic Services in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Republic Services currently has a consensus rating of “Hold” and a consensus price target of $51.90.
In related news, insider Donald W. Slager sold 26,000 shares of Republic Services stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $50.37, for a total transaction of $1,309,620.00. Following the transaction, the insider now owns 234,397 shares in the company, valued at approximately $11,806,576.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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