Republic Services, Inc. (RSG) is General American Investors Co. Inc.’s 2nd Largest Position
General American Investors Co. Inc. continued to hold its stake in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 787,800 shares of the business services provider’s stock at the end of the second quarter. Republic Services accounts for approximately 5.1% of General American Investors Co. Inc.’s investment portfolio, making the stock its 2nd largest position. General American Investors Co. Inc.’s holdings in Republic Services were worth $50,206,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Cribstone Capital Management LLC bought a new stake in Republic Services during the first quarter worth about $121,000. Whittier Trust Co. of Nevada Inc. raised its stake in Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after buying an additional 1,078 shares in the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in shares of Republic Services during the first quarter valued at $203,000. Fox Run Management L.L.C. acquired a new stake in shares of Republic Services during the first quarter valued at $204,000. Finally, Pillar Pacific Capital Management LLC acquired a new stake in shares of Republic Services during the first quarter valued at $205,000. 61.66% of the stock is currently owned by institutional investors.
Shares of Republic Services, Inc. (RSG) opened at 64.38 on Thursday. The stock’s 50 day moving average price is $64.36 and its 200 day moving average price is $62.58. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 33.05 and a beta of 0.58. Republic Services, Inc. has a 12 month low of $49.18 and a 12 month high of $65.54.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.345 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.14%. Republic Services’s payout ratio is 65.64%.
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Several brokerages have recently weighed in on RSG. Credit Suisse Group set a $63.00 target price on Republic Services and gave the stock a “hold” rating in a research report on Sunday, April 30th. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Barclays PLC reissued a “hold” rating and set a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. Stifel Nicolaus reissued a “buy” rating and set a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. Finally, BMO Capital Markets raised their target price on Republic Services from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $69.78.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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