Mutual of America Capital Management LLC increased its position in Republic Services, Inc. (NYSE: RSG – Get a rating) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The fund held 27,946 shares of the business services provider after buying an additional 243 shares during the period. Mutual of America Capital Management LLC’s holdings in Republic Services were worth $3,703,000 when it last filed with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of RSG. National Bank of Canada FI acquired a new stake in Republic Services in the 4th quarter for a value of $1,350,000. Tokio Marine Asset Management Co.Ltd. acquired a new stake in Republic Services in Q4 worth $228,000. Van ECK Associates Corp increased its position in Republic Services by 7.3% in the fourth quarter. Van ECK Associates Corp now owns 59,633 shares of the business services provider worth $8,316,000 after buying an additional 4,059 shares in the last quarter. Regentatlantic Capital LLC increased its position in Republic Services by 7.1% in the fourth quarter. Regentatlantic Capital LLC now owns 4,061 shares of the business services provider worth $566,000 after buying 269 additional shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Republic Services by 7.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 47,091 shares of the business services provider worth $6,567,000 after buying 3,077 additional shares in the last quarter. Institutional investors hold 92.80% of the company’s shares.
Insider buying and selling
Separately, COO Timothy E. Stuart sold 15,000 shares of the company in a trade that took place 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 directly owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in a legal filing with the SEC, available at this link. In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction that took place on Tuesday, June 7. The shares were sold at an average price of $135.19, for a total value 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 the SEC website. Also, CAD Brian A. Goebel sold 347 shares of the company in a transaction that took place 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 chief accounting officer 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 currently held by insiders.
Trade in services of the Republic down 0.4%
Shares of NYSE RSG opened at $131.50 on Wednesday. Republic Services, Inc. has a 1-year minimum of $113.57 and a 1-year maximum of $145.98. The company has a market capitalization of $41.54 billion, a PE ratio of 31.16, a P/E/G ratio of 2.66 and a beta of 0.73. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. The company has a 50-day moving average of $129.67 and a two-hundred-day moving average of $129.10.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly results on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating analyst consensus estimates of $1.05 by $0.09. The company posted revenue of $2.97 billion in the quarter, versus a consensus estimate of $2.89 billion. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. Republic Services revenue for the quarter increased 14.4% compared to the same quarter last year. During the same period a year earlier, the company posted earnings per share of $0.93. As a group, stock analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current fiscal year.
Republic Services announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Investors of record on Friday, July 1 received a dividend of $0.46 per share. This represents a dividend of $1.84 on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, June 30. Republic Services’ dividend payout ratio (DPR) is 43.60%.
Changes to analyst ratings
Several analysts have published reports on RSG shares. Oppenheimer set a price target of $139.00 on Republic Services shares in a Tuesday, July 19 research report. 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 research report. 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 Wednesday, July 20 research report. Bank of America has downgraded Republic Services shares from a “neutral” to a “buy” rating and raised its price target for the company from $140.00 to $150.00 in a research report from the Friday May 13. To finish, StockNews.com purported coverage of Republic Services stock in a Thursday, March 31 research report. They issued a “Strong Buy” rating on the stock. Two equity research analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $141.43.
About Republic Services
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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