Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) by 153.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 145,389 shares of the business services provider’s stock after purchasing an additional 87,960 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Republic Services were worth $19,264,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. Glassman Wealth Services grew its stake in Republic Services by 116.8% during the first quarter. Glassman Wealth Services now owns 206 shares of the business services provider’s stock worth $27,000 after buying an additional 111 shares during the period. Godsey & Gibb Associates purchased a new stake in Republic Services during the 4th quarter worth $28,000. Masso Torrence Wealth Management Inc. acquired a new stake in Republic Services in the 4th quarter valued at $32,000. Confluence Wealth Services Inc. purchased a new position in Republic Services in the fourth quarter valued at about $33,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in shares of Republic Services during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.
In other news, COO Timothy E. Stuart sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the sale, the chief operating officer now directly owns 19,675 shares in the company, valued at approximately $2,659,863.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 347 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $135.01, for a total value of $46,848.47. Following the completion of the sale, the chief accounting officer now directly owns 6,186 shares in the company, valued at approximately $835,171.86. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
A number of equity analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a $147.00 price target for the company in a report on Thursday, June 16th. Raymond James raised their price target on shares of Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. StockNews.com initiated coverage on shares of Republic Services in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Morgan Stanley lowered their target price on Republic Services from $152.00 to $142.00 and set an “overweight” rating for the company in a research note on Wednesday, June 22nd. Finally, Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $150.00 in a report on Friday, May 13th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $138.14.
Shares of RSG stock opened at $133.04 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $42.03 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.64 and a beta of 0.75. Republic Services, Inc. has a one year low of $110.39 and a one year high of $145.98. The company’s 50-day simple moving average is $130.48 and its 200-day simple moving average is $129.83.
Republic Services (NYSE:RSG – Get Rating) last issued its earnings results on Thursday, May 5th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The business’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. As a group, research analysts forecast that Republic Services, Inc. will post 4.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, June 30th. This represents a $1.84 annualized dividend and a yield of 1.38%. Republic Services’s payout ratio is 43.60%.
Republic Services Profile: (Get Rating)
Republic Services, Inc., together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.
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