Rothschild Asset Management Inc. Sells 482 Shares of Republic Services, Inc. (RSG)
Rothschild Asset Management Inc. cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 12,229 shares of the business services provider’s stock after selling 482 shares during the period. Rothschild Asset Management Inc.’s holdings in Republic Services were worth $779,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock valued at $1,197,070,000 after buying an additional 18,401,448 shares in the last quarter. Vanguard Group Inc. raised its position in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC raised its position in Republic Services by 329.6% in the first quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock valued at $54,959,000 after buying an additional 671,300 shares during the last quarter. Wellington Management Group LLP bought a new position in Republic Services during the first quarter valued at $39,751,000. Finally, State Street Corp raised its position in Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock valued at $731,866,000 after buying an additional 501,491 shares during the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.
Republic Services, Inc. (RSG) opened at 64.38 on Thursday. 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 1-year low of $49.18 and a 1-year high of $65.54. The firm has a 50-day moving average price of $64.36 and a 200 day moving average price of $62.58.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. Equities analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.345 dividend. The ex-dividend date is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 2.14%. Republic Services’s dividend payout ratio is 65.64%.
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Several research firms have weighed in on RSG. Credit Suisse Group set a $63.00 target price on Republic Services and gave the company a “hold” rating in a research note on Sunday, April 30th. BMO Capital Markets increased their target price on Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Thursday, May 25th. Stifel Nicolaus reissued a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. Finally, Barclays PLC reissued a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target 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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