Republic Services Inc. (RSG) Shares Sold by GAM Holding AG
GAM Holding AG reduced its stake in shares of Republic Services Inc. (NYSE:RSG) by 33.6% during the third quarter, Holdings Channel reports. The institutional investor owned 99,768 shares of the company’s stock after selling 50,536 shares during the period. GAM Holding AG’s holdings in Republic Services were worth $5,033,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of RSG. Hilton Capital Management LLC boosted its stake in Republic Services by 4.1% in the second quarter. Hilton Capital Management LLC now owns 224,133 shares of the company’s stock valued at $11,500,000 after buying an additional 8,746 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Republic Services by 0.4% in the second quarter. Retirement Systems of Alabama now owns 244,455 shares of the company’s stock valued at $12,543,000 after buying an additional 1,046 shares in the last quarter. WESPAC Advisors LLC bought a new stake in Republic Services during the second quarter valued at approximately $1,192,000. LSV Asset Management boosted its stake in Republic Services by 28.9% in the second quarter. LSV Asset Management now owns 971,737 shares of the company’s stock valued at $49,859,000 after buying an additional 217,600 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Republic Services by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,795 shares of the company’s stock valued at $46,015,000 after buying an additional 14,589 shares in the last quarter. 60.80% of the stock is owned by hedge funds and other institutional investors.
Republic Services Inc. (NYSE:RSG) traded down 0.73% on Wednesday, reaching $55.49. The company had a trading volume of 1,317,704 shares. Republic Services Inc. has a 52-week low of $41.82 and a 52-week high of $55.93. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 32.26 and a beta of 0.61. The stock’s 50-day moving average price is $52.17 and its 200 day moving average price is $50.88.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, October 27th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Republic Services had a return on equity of 9.62% and a net margin of 6.40%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.53 EPS. Republic Services’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Republic Services Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Tuesday, January 3rd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, December 29th. Republic Services’s payout ratio is currently 74.85%.
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RSG has been the subject of several recent research reports. Macquarie initiated coverage on Republic Services in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price target for the company. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. initiated coverage on Republic Services in a research report on Tuesday, November 1st. They issued a “neutral” rating and a $52.00 price objective for the company. Deutsche Bank AG lowered Republic Services from a “buy” rating to a “hold” rating and increased their price objective for the stock from $108.00 to $112.00 in a research report on Saturday, October 22nd. Finally, Imperial Capital increased their price objective on Republic Services from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Republic Services currently has a consensus rating of “Hold” and a consensus price target of $57.91.
In related news, insider Donald W. Slager sold 26,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $50.37, for a total value of $1,309,620.00. Following the sale, the insider now owns 234,397 shares of the company’s stock, valued at approximately $11,806,576.89. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald W. Slager sold 164,628 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $52.00, for a total value of $8,560,656.00. Following the completion of the sale, the insider now directly owns 257,367 shares in the company, valued at approximately $13,383,084. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.
Republic Services Company Profile
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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