Daiwa Securities Group Inc. increased its position in shares of Republic Services, Inc. (NYSE: RSG – Get a rating) by 8.0% during the 1st quarter, according to its last Form 13F filed with the Securities and Exchange Commission. The fund held 13,890 shares of the business services provider after buying an additional 1,029 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Republic Services were worth $1,840,000 when it last filed with the Securities and Exchange Commission.
Several other large investors have also recently increased or reduced their stake in the company. Benjamin Edwards Inc. increased its stake in Republic Services by 0.4% during the fourth quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider worth $2,523,000 after buying 79 more shares in the last quarter. Profund Advisors LLC raised its position in Republic Services shares by 2.9% during the fourth quarter. Profund Advisors LLC now owns 2,928 shares of the business services provider worth $408,000 after buying 82 additional shares in the last quarter. HighTower Advisors LLC raised its position in Republic Services shares by 0.3% during the fourth quarter. HighTower Advisors LLC now owns 24,418 shares of the business services provider worth $3,405,000 after buying 82 additional shares in the last quarter. Hanson & Doremus Investment Management increased its position in Republic Services shares by 16.6% during the first quarter. Hanson & Doremus Investment Management now owns 626 shares of the business services provider worth $83,000 after buying 89 more shares last quarter. Finally, CVA Family Office LLC increased its position in Republic Services shares by 30.8% during the fourth quarter. CVA Family Office LLC now owns 403 shares of the business services provider worth $56,000 after buying 95 additional shares in the last quarter. 92.80% of the shares are held by institutional investors.
Wall Street analysts predict growth
RSG has been the subject of a number of research reports. Oppenheimer set a target price of $139.00 on Republic Services shares in a research report on Tuesday. StockNews.com launched coverage on Republic Services shares in a research report on Thursday, March 31. They have set a “Strong Buy” rating on the stock. Morgan Stanley raised its price target on Republic Services shares from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 report. Finally, Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and raised its price target for the company from $140.00 to $150.00 in a Friday report. May 13. Two research analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $141.43.
Insider Trading at Republic Services
In other news, CAD Brian A. Goebel sold 347 shares of the stock in a trade on Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the sale, the accounting director now owns 6,186 shares of the company, valued at $835,171.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, COO Timothy E. Stuart sold 15,000 shares in a trade on Tuesday, June 7. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the sale, the COO now owns 19,675 shares of the company, valued at $2,659,863.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CAO Brian A. Goebel sold 347 shares in a trade on Thursday, June 2. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. As a result of the sale, the accounting chief now directly owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders.
Republic services trade up 1.5%
RSG opened at $131.24 on Friday. The company’s fifty-day moving average is $129.66 and its two-hundred-day moving average is $129.20. The company has a debt ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $41.46 billion, a PE ratio of 31.10, a growth price-earnings ratio of 2.62 and a beta of 0.73. Republic Services, Inc. has a 12-month low of $113.57 and a 12-month high of $145.98.
Services of the Republic (NYSE: RSG – Get a rating) last reported results on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. The company posted revenue of $2.97 billion for the quarter, versus analyst estimates of $2.89 billion. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company’s revenue for the quarter increased by 14.4% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.93. Equity research analysts expect Republic Services, Inc. to post EPS of 4.67 for the current year.
Republic Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.46. The ex-dividend date was Thursday, June 30. This represents an annualized dividend of $1.84 and a yield of 1.40%. Republic Services’ dividend payout ratio (DPR) is currently 43.60%.
Profile of the services of the Republic
Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.
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