Transcend Capital Advisors LLC has acquired a new stake in Republic Services, Inc. (NYSE: RSG – Get a rating) during the 1st trimester, Holdings Channel.com reports. The company bought 1,572 shares of the business services provider, valued at around $208,000.
Several other institutional investors and hedge funds have also recently increased or reduced their stake in RSG. Glassman Wealth Services increased its equity stake in Republic Services by 116.8% in Q1. Glassman Wealth Services now owns 206 shares of the business services provider valued at $27,000 after buying 111 additional shares during the period. Godsey & Gibb Associates acquired a new stake in Republic Services stock in Q4 worth approximately $28,000. Masso Torrence Wealth Management Inc. acquired a new stake in Republic Services stock in Q4 valued at approximately $32,000. Confluence Wealth Services Inc. acquired a new stake in shares of Republic Services in the fourth quarter worth approximately $33,000. Finally, Desjardins International Asset Management Inc. acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $38,000. 92.80% of the shares are currently held by hedge funds and other institutional investors.
In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the company in a trade 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 completion of the transaction, the COO now directly owns 19,675 shares of the company, valued at approximately $2,659,863.25. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Additionally, CAO Brian A. Goebel sold 347 shares of the company 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 transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at $835,171.86. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders of the company.
GSR action opened at $133.04 on Tuesday. The stock has a market capitalization of $42.03 billion, a PE ratio of 31.53, a growth price-earnings ratio of 2.71 and a beta of 0.73. The company’s 50-day moving average is $130.50 and its 200-day moving average is $129.75. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75. Republic Services, Inc. has a 1-year minimum of $110.39 and a 1-year maximum of $145.98.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly earnings data on Thursday, May 5. The business services provider reported EPS of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company posted revenue of $2.97 billion in the quarter, versus analyst estimates of $2.89 billion. In the same quarter last year, the company posted EPS of $0.93. The company’s revenue for the quarter increased 14.4% year over year. On average, analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.46. This represents an annualized dividend of $1.84 and a yield of 1.38%. The ex-date of this dividend is Thursday, June 30. Republic Services’ payout ratio is 43.60%.
A number of analysts have recently released reports on RSG shares. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a target price of $147.00 on the stock in a Thursday, June 16 research report. Morgan Stanley lowered its target price on Republic Services from $152.00 to $142.00 and set an “overweight” rating on the stock in a Wednesday, June 22 research report. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the company from $140.00 to $150.00 in a Friday, May 13 research report. StockNews.com began covering Republic Services in a research report on Thursday, March 31. They issued a “Strong Buy” rating on the stock. Finally, Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research report. Two analysts gave the stock a hold rating, six issued a buy rating and two gave the company a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $138.14.
Republic Services Company Profile (Get a rating)
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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