TD Asset Management Inc decreased its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 393,044 shares of the business services provider’s stock after selling 20,276 shares during the quarter. TD Asset Management Inc owned about 0.12% of Republic Services worth $60,203,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. raised its holdings in Republic Services by 8.3% in the second quarter. Montag A & Associates Inc. now owns 24,043 shares of the business services provider’s stock worth $3,695,000 after purchasing an additional 1,850 shares in the last quarter. Lido Advisors LLC raised its holdings in Republic Services by 2.2% in the second quarter. Lido Advisors LLC now owns 5,692 shares of the business services provider’s stock worth $872,000 after purchasing an additional 121 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Republic Services by 1.1% in the second quarter. Banque Cantonale Vaudoise now owns 9,876 shares of the business services provider’s stock worth $1,512,000 after purchasing an additional 111 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Republic Services by 3.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,854 shares of the business services provider’s stock worth $5,492,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Republic Services by 8.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 182,751 shares of the business services provider’s stock worth $27,992,000 after purchasing an additional 14,368 shares in the last quarter. Hedge funds and other institutional investors own 57.23% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on RSG shares. Citigroup increased their price objective on Republic Services from $177.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Morgan Stanley raised their price target on Republic Services from $158.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. BMO Capital Markets raised their price target on Republic Services from $158.00 to $160.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. Wolfe Research started coverage on Republic Services in a report on Tuesday, October 17th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada raised their price target on Republic Services from $163.00 to $166.00 and gave the company a “sector perform” rating in a report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.36.
Republic Services Trading Up 0.4 %
Republic Services stock opened at $159.06 on Wednesday. The business has a 50-day simple moving average of $148.11 and a two-hundred day simple moving average of $147.50. The company has a market cap of $50.05 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.91 and a beta of 0.67. Republic Services, Inc. has a 52-week low of $120.58 and a 52-week high of $160.04. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.06.
Republic Services (NYSE:RSG – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.81 billion. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. Analysts predict that Republic Services, Inc. will post 5.47 EPS for the current year.
Republic Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.35%. Republic Services’s dividend payout ratio (DPR) is presently 41.39%.
Republic Services announced that its Board of Directors has initiated a stock buyback program on Thursday, October 26th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
About Republic Services
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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