Westport Asset Management Inc. Has $1,211,000 Position in Republic Services, Inc. (RSG)
Westport Asset Management Inc. maintained its stake in shares of Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,000 shares of the business services provider’s stock at the end of the second quarter. Republic Services makes up 1.0% of Westport Asset Management Inc.’s investment portfolio, making the stock its 25th largest position. Westport Asset Management Inc.’s holdings in Republic Services were worth $1,211,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of RSG. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 during the period. Pinnacle Financial Partners Inc. acquired a new stake in shares of Republic Services during the first quarter worth approximately $203,000. Fox Run Management L.L.C. acquired a new stake in shares of Republic Services during the first quarter worth approximately $204,000. Pillar Pacific Capital Management LLC acquired a new stake in shares of Republic Services during the first quarter worth approximately $205,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of Republic Services during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
Shares of Republic Services, Inc. (NYSE:RSG) opened at 64.13 on Friday. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 32.92 and a beta of 0.58. Republic Services, Inc. has a 52 week low of $49.18 and a 52 week high of $65.54. The firm has a 50 day moving average price of $64.41 and a 200 day moving average price of $62.83.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the 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 the consensus estimate of $2.47 billion. During the same period last year, the business posted $0.55 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Equities analysts forecast that Republic Services, Inc. will post $2.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.15%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is currently 65.64%.
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RSG has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price target on shares of Republic Services in a report on Wednesday, July 19th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Friday, July 14th. Credit Suisse Group set a $63.00 price target on Republic Services and gave the stock a “hold” rating in a report on Sunday, April 30th. Finally, Barclays PLC reiterated a “hold” rating and set a $59.00 price target on shares of Republic Services in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $69.78.
About Republic Services
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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