Janus Henderson Group PLC Boosts Holdings in Republic Services, Inc. (RSG)
Janus Henderson Group PLC boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,847,676 shares of the business services provider’s stock after buying an additional 102,801 shares during the period. Janus Henderson Group PLC owned 1.15% of Republic Services worth $254,177,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Evercore Wealth Management LLC grew its position in shares of 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 in the last quarter. Sun Life Financial INC grew its position in shares of 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 in the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Republic Services in the second quarter valued at approximately $141,000. Acrospire Investment Management LLC purchased a new stake in shares of Republic Services in the second quarter valued at approximately $191,000. Finally, Pinnacle Financial Partners Inc. grew its position in shares of Republic Services by 1.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 60.01% of the company’s stock.
Republic Services, Inc. (RSG) traded down $0.10 on Friday, reaching $65.14. The company had a trading volume of 1,070,000 shares, compared to its average volume of 1,140,275. Republic Services, Inc. has a 12-month low of $56.01 and a 12-month high of $67.18. The firm has a market capitalization of $21,771.42, a PE ratio of 27.14, a PEG ratio of 3.21 and a beta of 0.60. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating 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 firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. equities analysts predict that Republic Services, Inc. will post 2.4 earnings per share for the current year.
Republic Services declared that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is 58.47%.
In other Republic Services news, CEO Donald W. Slager sold 98,132 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the transaction, the chief executive officer now directly owns 322,541 shares in the company, valued at $20,703,906.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total value of $420,878.50. Following the transaction, the executive vice president now owns 428 shares in the company, valued at $28,462. The disclosure for this sale can be found here. Insiders have sold 173,740 shares of company stock worth $11,228,959 over the last 90 days. 0.40% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the company. Oppenheimer restated a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. BMO Capital Markets dropped their price target on Republic Services from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. BidaskClub lowered Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Stifel Nicolaus lowered Republic Services from a “buy” rating to a “hold” rating and dropped their price target for the company from $76.00 to $70.00 in a research report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Republic Services presently has an average rating of “Hold” and a consensus target price of $67.71.
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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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