State of Alaska Department of Revenue Has $3.92 Million Position in Republic Services, Inc. (NYSE:RSG)

State of Alaska Department of Revenue lifted its holdings in shares of Republic Services, Inc. (NYSE:RSGGet Rating) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,945 shares of the business services provider’s stock after purchasing an additional 570 shares during the quarter. State of Alaska Department of Revenue’s holdings in Republic Services were worth $3,918,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RSG. Schroder Investment Management Group raised its position in shares of Republic Services by 67.5% during the fourth quarter. Schroder Investment Management Group now owns 121,413 shares of the business services provider’s stock worth $16,931,000 after purchasing an additional 48,912 shares during the period. People s United Financial Inc. raised its position in shares of Republic Services by 68.8% during the fourth quarter. People s United Financial Inc. now owns 8,680 shares of the business services provider’s stock worth $1,210,000 after purchasing an additional 3,539 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Republic Services by 18.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 82,258 shares of the business services provider’s stock worth $11,470,000 after buying an additional 12,755 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Republic Services by 3.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 39,136 shares of the business services provider’s stock worth $5,458,000 after buying an additional 1,408 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Republic Services by 7.3% during the fourth quarter. Blair William & Co. IL now owns 30,667 shares of the business services provider’s stock worth $4,276,000 after buying an additional 2,079 shares in the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research reports. Oppenheimer increased their price objective on Republic Services from $139.00 to $154.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Republic Services from $147.00 to $158.00 in a report on Tuesday, August 9th. Morgan Stanley increased their price objective on Republic Services from $147.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Finally, StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Monday, August 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $148.33.

Insider Activity

In other news, CEO Ark Jon Vander sold 14,100 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $142.49, for a total value of $2,009,109.00. Following the transaction, the chief executive officer now directly owns 59,619 shares of the company’s stock, valued at $8,495,111.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $143.26 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.26. The firm’s fifty day moving average price is $141.39 and its two-hundred day moving average price is $134.53. Republic Services, Inc. has a 1 year low of $113.57 and a 1 year high of $149.17. The firm has a market capitalization of $45.26 billion, a P/E ratio of 32.86, a price-to-earnings-growth ratio of 2.69 and a beta of 0.70.

Republic Services (NYSE:RSGGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14. Republic Services had a net margin of 11.31% and a return on equity of 16.18%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, research analysts anticipate that Republic Services, Inc. will post 4.78 EPS for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a $0.495 dividend. The ex-dividend date is Friday, September 30th. This is a positive change from Republic Services’s previous quarterly dividend of $0.46. This represents a $1.98 annualized dividend and a dividend yield of 1.38%. Republic Services’s dividend payout ratio is presently 42.20%.

Republic Services Profile

(Get Rating)

Republic Services, Inc, together with its subsidiaries, offers 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 material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

See Also

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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