Baker Tilly Wealth Management LLC lessened its stake in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 55.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,158 shares of the business services provider’s stock after selling 1,439 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Republic Services were worth $225,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of RSG. RFG Advisory LLC increased its stake in Republic Services by 0.5% during the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after buying an additional 53 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Republic Services by 2.9% in the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after buying an additional 54 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Republic Services by 4.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 55 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Republic Services by 1.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock valued at $956,000 after acquiring an additional 57 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Republic Services by 19.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 357 shares of the business services provider’s stock worth $59,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently commented on RSG. BMO Capital Markets increased their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. CIBC boosted their price target on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $211.00.
Check Out Our Latest Research Report on RSG
Insider Transactions at Republic Services
In other news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now directly owns 540 shares in the company, valued at $100,040.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.
Republic Services Stock Performance
Shares of NYSE RSG opened at $203.27 on Friday. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $206.54. The company has a market cap of $63.84 billion, a PE ratio of 35.66, a P/E/G ratio of 3.25 and a beta of 0.69. The stock has a 50 day simple moving average of $196.14 and a 200-day simple moving average of $189.21. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.
Republic Services (NYSE:RSG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, equities research analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.
Republic Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s payout ratio is 37.54%.
Republic Services Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. 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.
Further Reading
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