CLS Investments LLC Has $1.59 Million Position in Republic Services, Inc. (RSG)
CLS Investments LLC raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,878 shares of the business services provider’s stock after buying an additional 86 shares during the period. CLS Investments LLC’s holdings in Republic Services were worth $1,585,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares in the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in shares of Republic Services during the first quarter valued at approximately $203,000. Fox Run Management L.L.C. acquired a new stake in shares of Republic Services during the first quarter valued at approximately $204,000. Pillar Pacific Capital Management LLC acquired a new stake in shares of Republic Services during the first quarter valued at approximately $205,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of Republic Services during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Shares of Republic Services, Inc. (NYSE:RSG) traded up 0.33% during trading on Friday, reaching $64.37. The company had a trading volume of 1,045,760 shares. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54. The firm has a market capitalization of $21.68 billion, a PE ratio of 33.04 and a beta of 0.58. The firm has a 50-day moving average of $64.50 and a 200 day moving average of $63.13.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. Analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.345 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio (DPR) is currently 65.64%.
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Several analysts have recently commented on the company. Zacks Investment Research lowered Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Credit Suisse Group set a $63.00 price objective on Republic Services and gave the company a “hold” rating in a report on Sunday, April 30th. BMO Capital Markets assumed coverage on Republic Services in a report on Thursday, June 29th. They set an “outperform” rating and a $71.00 price objective for the company. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Republic Services in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Republic Services has a consensus rating of “Hold” and an average target price of $71.88.
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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