Meiji Yasuda Asset Management Co Ltd. boosted its stake in Republic Services, Inc. (NYSE:RSG) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,432 shares of the business services provider’s stock after buying an additional 1,620 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Republic Services were worth $4,391,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. First Hawaiian Bank bought a new position in shares of Republic Services during the 3rd quarter valued at about $119,000. Braun Bostich & Associates Inc. boosted its position in shares of Republic Services by 531.6% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,531 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Republic Services by 57.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 704 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Republic Services during the 2nd quarter valued at about $178,000. Finally, Cerebellum GP LLC bought a new position in shares of Republic Services during the 3rd quarter valued at about $186,000. Hedge funds and other institutional investors own 60.19% of the company’s stock.
Several research analysts have commented on the stock. Bank of America cut shares of Republic Services from a “buy” rating to a “neutral” rating and set a $74.00 target price for the company. in a report on Wednesday, October 24th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus raised their target price on shares of Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, September 10th. BMO Capital Markets raised their target price on shares of Republic Services from $75.00 to $79.00 and gave the stock a “positive” rating in a report on Thursday, August 16th. Finally, Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Republic Services presently has an average rating of “Hold” and an average price target of $73.71.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 25th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. As a group, analysts anticipate that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 31st. Republic Services’s payout ratio is 61.73%.
In related news, Director Jennifer M. Kirk purchased 1,500 shares of Republic Services stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average cost of $72.35 per share, with a total value of $108,525.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $108,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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