State Treasurer State of Michigan lowered its position in Republic Services, Inc. (NYSE:RSG) by 0.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 75,600 shares of the business services provider’s stock after selling 100 shares during the period. State Treasurer State of Michigan’s holdings in Republic Services were worth $4,818,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in Republic Services by 4.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,970 shares of the business services provider’s stock worth $455,000 after buying an additional 340 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Republic Services during the fourth quarter worth $957,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Republic Services during the fourth quarter worth $427,000. Chevy Chase Trust Holdings Inc. raised its stake in Republic Services by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 199,222 shares of the business services provider’s stock worth $12,513,000 after buying an additional 5,628 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its stake in Republic Services by 0.8% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 419,621 shares of the business services provider’s stock worth $26,356,000 after buying an additional 3,265 shares in the last quarter. 61.33% of the stock is currently owned by institutional investors.
Republic Services, Inc. (RSG) traded down 0.37% during midday trading on Friday, reaching $63.89. 881,280 shares of the company’s stock traded hands. The firm’s 50-day moving average is $64.43 and its 200 day moving average is $62.88. The firm has a market cap of $21.52 billion, a PE ratio of 32.80 and a beta of 0.58. Republic Services, Inc. has a 52-week low of $49.18 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm 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 business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is currently 65.64%.
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RSG has been the topic of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Republic Services in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Friday, July 14th. Credit Suisse Group set a $63.00 target price on shares of Republic Services and gave the stock a “hold” rating in a report on Sunday, April 30th. Finally, Barclays PLC reiterated a “hold” rating and issued a $59.00 price objective on shares of Republic Services in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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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