RWWM Inc. reduced its stake in Republic Services, Inc. (NYSE:RSG) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 412,818 shares of the business services provider’s stock after selling 3,564 shares during the period. Republic Services accounts for about 9.2% of RWWM Inc.’s portfolio, making the stock its 6th largest position. RWWM Inc. owned 0.12% of Republic Services worth $25,929,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Republic Services by 4.2% in the first quarter. American Century Companies Inc. now owns 8,915,076 shares of the business services provider’s stock valued at $559,956,000 after buying an additional 356,424 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Republic Services by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 6,421,842 shares of the business services provider’s stock valued at $403,356,000 after buying an additional 198,679 shares in the last quarter. Norges Bank bought a new stake in Republic Services during the fourth quarter valued at $177,244,000. Victory Capital Management Inc. increased its stake in Republic Services by 3.6% in the first quarter. Victory Capital Management Inc. now owns 1,852,255 shares of the business services provider’s stock valued at $116,340,000 after buying an additional 64,788 shares in the last quarter. Finally, Swiss National Bank increased its stake in Republic Services by 12.3% in the first quarter. Swiss National Bank now owns 1,841,048 shares of the business services provider’s stock valued at $115,636,000 after buying an additional 202,300 shares in the last quarter. 61.75% of the stock is owned by institutional investors and hedge funds.
Shares of Republic Services, Inc. (RSG) traded down 0.41% during trading on Tuesday, reaching $64.84. 205,497 shares of the company were exchanged. Republic Services, Inc. has a 1-year low of $48.67 and a 1-year high of $65.34. The stock has a market capitalization of $21.92 billion, a P/E ratio of 34.49 and a beta of 0.57. The firm has a 50-day moving average price of $63.34 and a 200-day moving average price of $60.72.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Republic Services had a net margin of 6.75% and a return on equity of 10.18%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business earned $0.48 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Republic Services, Inc. will post $2.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, June 29th. Republic Services’s dividend payout ratio (DPR) is 68.45%.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Friday. Credit Suisse Group set a $63.00 price target on shares of Republic Services and gave the company a “hold” rating in a research note on Sunday, April 30th. Barclays PLC reaffirmed a “hold” rating and set a $59.00 price target on shares of Republic Services in a research note on Friday, April 28th. Finally, Wedbush lifted their price target on shares of Republic Services from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, March 30th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.56.
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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