Beverly Hills Private Wealth LLC raised its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 106.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,348 shares of the business services provider’s stock after buying an additional 3,276 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Republic Services were worth $943,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of RSG. Bangor Savings Bank grew its stake in Republic Services by 210.5% in the 2nd quarter. Bangor Savings Bank now owns 177 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Horizons Wealth Management purchased a new position in shares of Republic Services in the 2nd quarter worth about $31,000. Strategic Investment Solutions Inc. IL bought a new position in Republic Services during the first quarter valued at about $34,000. TCI Wealth Advisors Inc. raised its position in Republic Services by 242.7% in the first quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock worth $38,000 after acquiring an additional 199 shares during the period. Finally, Colonial Trust Co SC grew its position in shares of Republic Services by 147.4% during the 1st quarter. Colonial Trust Co SC now owns 282 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 168 shares during the period. Institutional investors own 57.23% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on RSG. StockNews.com initiated coverage on shares of Republic Services in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Morgan Stanley upped their price target on Republic Services from $158.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, August 1st. BMO Capital Markets boosted their price objective on Republic Services from $158.00 to $160.00 and gave the company a “market perform” rating in a research note on Tuesday, August 1st. Royal Bank of Canada increased their target price on shares of Republic Services from $163.00 to $166.00 and gave the stock a “sector perform” rating in a research report on Monday, October 2nd. Finally, UBS Group raised shares of Republic Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $155.00 to $175.00 in a research report on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.36.
Republic Services Price Performance
RSG stock opened at $159.06 on Wednesday. The firm has a 50 day moving average of $148.11 and a 200-day moving average of $147.50. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $50.05 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.91 and a beta of 0.67. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $160.04.
Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter last year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Republic Services, Inc. will post 5.47 earnings per share for the current fiscal year.
Republic Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio is currently 41.39%.
Republic Services declared that its board has approved a share buyback program on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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