Republic Services, Inc. (RSG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Republic Services, Inc. (NYSE:RSG) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,519 shares of the business services provider’s stock after selling 13,067 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Republic Services were worth $9,720,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new stake in shares of Republic Services during the first quarter valued at approximately $204,000. Korea Investment CORP raised its stake in shares of Republic Services by 483.8% in the first quarter. Korea Investment CORP now owns 71,120 shares of the business services provider’s stock valued at $4,467,000 after buying an additional 58,937 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of Republic Services by 16.7% in the first quarter. Glen Harbor Capital Management LLC now owns 27,120 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 3,872 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Republic Services by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 25,756 shares of the business services provider’s stock valued at $1,618,000 after buying an additional 1,000 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Republic Services by 15.0% in the first quarter. Russell Investments Group Ltd. now owns 671,870 shares of the business services provider’s stock valued at $42,200,000 after buying an additional 87,675 shares during the period. 60.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (NYSE RSG) opened at 64.88 on Wednesday. The company has a 50-day moving average price of $64.50 and a 200-day moving average price of $63.13. Republic Services, Inc. has a 1-year low of $49.18 and a 1-year high of $65.54. The stock has a market cap of $21.85 billion, a price-to-earnings ratio of 33.31 and a beta of 0.58.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post $2.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is presently 65.64%.
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Several equities research analysts have recently commented on RSG shares. Zacks Investment Research raised Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, May 2nd. BMO Capital Markets started coverage on Republic Services in a research note on Thursday, June 29th. They set an “outperform” rating and a $71.00 price target on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $73.00 price target on shares of Republic Services in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $71.88.
About Republic Services
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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