Bank of Montreal Can Buys 75,236 Shares of Republic Services, Inc. (RSG)
Bank of Montreal Can grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 12.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 662,622 shares of the business services provider’s stock after buying an additional 75,236 shares during the period. Bank of Montreal Can’s holdings in Republic Services were worth $48,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Braun Bostich & Associates Inc. lifted its position in shares of Republic Services by 531.6% during the second quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock worth $124,000 after acquiring an additional 1,531 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Republic Services by 57.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock worth $132,000 after acquiring an additional 704 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Republic Services during the second quarter worth $178,000. Cerebellum GP LLC purchased a new stake in shares of Republic Services during the third quarter worth $186,000. Finally, Lourd Capital LLC purchased a new stake in shares of Republic Services during the third quarter worth $201,000. Hedge funds and other institutional investors own 60.69% of the company’s stock.
RSG has been the topic of several recent research reports. Bank of America increased their target price on Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. ValuEngine upgraded Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus increased their target price on Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, BMO Capital Markets increased their price objective on Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a research report on Thursday, August 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Republic Services presently has an average rating of “Buy” and a consensus target price of $75.00.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.53 billion. Republic Services had a return on equity of 11.65% and a net margin of 13.51%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. On average, analysts predict that Republic Services, Inc. will post 3.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, September 28th. This is a boost from Republic Services’s previous quarterly dividend of $0.35. Republic Services’s dividend payout ratio is currently 61.73%.
In related news, insider Donald W. Slager sold 225,734 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $73.02, for a total value of $16,483,096.68. Following the transaction, the insider now owns 378,023 shares of the company’s stock, valued at $27,603,239.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Donald W. Slager sold 91,334 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $73.04, for a total value of $6,671,035.36. Following the completion of the transaction, the chief executive officer now directly owns 378,023 shares in the company, valued at approximately $27,610,799.92. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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