Cedar Wealth Management LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,453 shares of the business services provider’s stock after selling 167 shares during the period. Cedar Wealth Management LLC’s holdings in Republic Services were worth $284,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Capital Management Ltd acquired a new position in shares of Republic Services during the first quarter worth $1,947,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Republic Services by 1.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 47,622 shares of the business services provider’s stock worth $2,991,000 after buying an additional 680 shares during the period. TNB Financial acquired a new position in shares of Republic Services during the first quarter worth $277,000. Kentucky Retirement Systems acquired a new position in shares of Republic Services during the fourth quarter worth $957,000. Finally, Bbva Compass Bancshares Inc. boosted its position in shares of Republic Services by 4.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 30,440 shares of the business services provider’s stock worth $1,912,000 after buying an additional 1,261 shares during the period. 61.33% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (RSG) traded down 0.37% during trading on Friday, hitting $63.89. 881,280 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $64.43 and its 200 day moving average is $62.88. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54. The firm has a market capitalization of $21.52 billion, a PE ratio of 32.80 and a beta of 0.58.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, equities research analysts forecast that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.16%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s payout ratio is currently 65.64%.
RSG has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, May 2nd. Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the stock a “hold” rating in a research report on Saturday, July 29th. BMO Capital Markets initiated coverage on shares of Republic Services in a research report on Thursday, June 29th. They set an “outperform” rating and a $71.00 target price on the stock. Barclays PLC restated a “neutral” rating on shares of Republic Services in a research report on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $69.78.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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