Legacy Capital Partners Inc. raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,075 shares of the business services provider’s stock after buying an additional 525 shares during the quarter. Legacy Capital Partners Inc.’s holdings in Republic Services were worth $1,478,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Nippon Life Global Investors Americas Inc. raised its stake in shares of Republic Services by 48.7% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 72,360 shares of the business services provider’s stock valued at $6,263,000 after purchasing an additional 23,700 shares in the last quarter. KAMES CAPITAL plc acquired a new position in shares of Republic Services in the third quarter valued at $37,840,000. Brinker Capital Inc. raised its stake in shares of Republic Services by 32.0% in the third quarter. Brinker Capital Inc. now owns 37,333 shares of the business services provider’s stock valued at $3,236,000 after purchasing an additional 9,054 shares in the last quarter. Strs Ohio raised its stake in shares of Republic Services by 3.3% in the third quarter. Strs Ohio now owns 37,898 shares of the business services provider’s stock valued at $3,280,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Republic Services by 10.8% in the third quarter. Stephens Inc. AR now owns 27,285 shares of the business services provider’s stock valued at $2,362,000 after purchasing an additional 2,654 shares in the last quarter. Institutional investors own 58.87% of the company’s stock.
NYSE:RSG traded up $0.13 during trading hours on Tuesday, reaching $87.83. The company had a trading volume of 285,501 shares, compared to its average volume of 948,167. The stock has a 50-day moving average of $86.84 and a two-hundred day moving average of $85.79. Republic Services, Inc. has a one year low of $67.48 and a one year high of $90.61. The firm has a market capitalization of $28.30 billion, a PE ratio of 28.42, a PEG ratio of 3.01 and a beta of 0.49. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.87.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Monday, September 30th. This is a boost from Republic Services’s previous quarterly dividend of $0.38. Republic Services’s dividend payout ratio is presently 52.43%.
In other news, CEO Donald W. Slager sold 95,126 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $90.00, for a total transaction of $8,561,340.00. Following the sale, the chief executive officer now owns 382,736 shares in the company, valued at $34,446,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Catharine D. Ellingsen sold 3,100 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 14,307 shares in the company, valued at approximately $1,287,630. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock worth $13,240,530 in the last 90 days. Company insiders own 0.30% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine cut Republic Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada set a $91.00 price target on Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Stifel Nicolaus set a $95.00 price target on Republic Services and gave the company a “buy” rating in a research report on Monday, September 23rd. Raymond James set a $93.00 price target on Republic Services and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $86.17.
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, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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