Elkhorn Investments LLC Has $1.69 Million Stake in Republic Services, Inc. (RSG)
Elkhorn Investments LLC raised its position in Republic Services, Inc. (NYSE:RSG) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,067 shares of the business services provider’s stock after acquiring an additional 44 shares during the period. Republic Services makes up 1.3% of Elkhorn Investments LLC’s investment portfolio, making the stock its 4th largest holding. Elkhorn Investments LLC’s holdings in Republic Services were worth $1,687,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. acquired a new stake in shares of Republic Services in the 2nd quarter worth $141,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Republic Services by 59.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after acquiring an additional 1,078 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of Republic Services in the 2nd quarter worth $191,000. Tiedemann Wealth Management LLC acquired a new stake in shares of Republic Services in the 1st quarter worth $205,000. Finally, Burney Co. acquired a new stake in shares of Republic Services in the 1st quarter worth $207,000. Institutional investors own 60.57% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BMO Capital Markets assumed coverage on shares of Republic Services in a research note on Thursday, June 29th. They issued an “outperform” rating and a $71.00 target price for the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Republic Services in a research note on Friday, August 25th. Royal Bank Of Canada restated an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the stock a “hold” rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Republic Services presently has a consensus rating of “Hold” and an average price target of $71.88.
In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now owns 428 shares of the company’s stock, valued at $28,462. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.
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Shares of Republic Services, Inc. (RSG) traded up 0.17% during trading on Friday, hitting $66.26. 885,594 shares of the stock were exchanged. The stock has a 50-day moving average of $64.99 and a 200 day moving average of $63.81. Republic Services, Inc. has a 12-month low of $49.18 and a 12-month high of $66.98. The stock has a market cap of $22.31 billion, a P/E ratio of 34.01 and a beta of 0.60.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. Equities analysts predict that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.345 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.38 annualized dividend and a yield of 2.08%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is presently 65.64%.
Republic Services 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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