Republic Services, Inc. (RSG) Shares Bought by Toronto Dominion Bank
Toronto Dominion Bank raised its position in Republic Services, Inc. (NYSE:RSG) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,380 shares of the business services provider’s stock after purchasing an additional 9,214 shares during the quarter. Toronto Dominion Bank’s holdings in Republic Services were worth $6,036,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RSG. Evercore Wealth Management LLC raised its position in Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 521 shares during the period. Sun Life Financial INC raised its position in Republic Services by 20,900.0% in the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Republic Services in the second quarter valued at approximately $141,000. Whittier Trust Co. of Nevada Inc. raised its position 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 valued at $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in Republic Services in the second quarter valued at approximately $191,000. 60.98% of the stock is currently owned by institutional investors.
In related news, insider Donald W. Slager sold 32,421 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total transaction of $2,074,944.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald W. Slager sold 22,608 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the transaction, the insider now owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The disclosure for this sale can be found here. Insiders have sold 75,608 shares of company stock worth $4,929,866 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.
Shares of Republic Services, Inc. (RSG) opened at $62.44 on Friday. Republic Services, Inc. has a 12-month low of $54.47 and a 12-month high of $67.18. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market capitalization of $21,140.00, a price-to-earnings ratio of 26.63, a PEG ratio of 3.15 and a beta of 0.62.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. research analysts forecast that Republic Services, Inc. will post 2.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio is currently 58.47%.
Republic Services declared that its Board of Directors has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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RSG has been the topic of a number of research analyst reports. Bank of America Corporation cut their target price on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Credit Suisse Group set a $69.00 target price on Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. KeyCorp reissued a “hold” rating on shares of Republic Services in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Finally, Stifel Nicolaus lowered Republic Services from a “buy” rating to a “hold” rating and cut their target price for the company from $76.00 to $70.00 in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.71.
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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