Manning & Napier Advisors LLC bought a new position in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,333 shares of the business services provider’s stock, valued at approximately $4,354,000.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Republic Services by 2,800.0% in the first quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after buying an additional 18,401,448 shares during the last quarter. Vanguard Group Inc. increased its stake in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. State Street Corp increased its stake in Republic Services by 4.5% in the first quarter. State Street Corp now owns 11,649,668 shares of the business services provider’s stock worth $731,866,000 after buying an additional 501,491 shares during the last quarter. American Century Companies Inc. increased its stake in Republic Services by 4.2% in the first quarter. American Century Companies Inc. now owns 8,915,076 shares of the business services provider’s stock worth $559,956,000 after buying an additional 356,424 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Republic Services by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 6,421,842 shares of the business services provider’s stock worth $403,356,000 after buying an additional 198,679 shares during the last quarter. Institutional investors and hedge funds own 61.33% of the company’s stock.
Republic Services, Inc. (RSG) traded down 0.37% during mid-day trading on Friday, reaching $63.89. 881,280 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $64.43 and a 200-day moving average price of $62.88. The stock has a market cap of $21.52 billion, a P/E ratio of 32.80 and a beta of 0.58. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The business had revenue of $2.53 billion for 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 firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Equities research analysts anticipate that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.16%. This is an increase from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s payout ratio is presently 65.64%.
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A number of equities research analysts have recently issued reports on RSG shares. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Thursday. Barclays PLC restated a “hold” rating and set a $59.00 price target on shares of Republic Services in a report on Friday, April 28th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Friday, July 14th. BMO Capital Markets boosted their price target on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $73.00 price target on shares of Republic Services in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Republic Services has a consensus rating of “Hold” and a consensus price target of $69.78.
Republic Services Company Profile
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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