Camden National Bank decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,678 shares of the business services provider’s stock after selling 3,244 shares during the period. Republic Services accounts for 2.4% of Camden National Bank’s investment portfolio, making the stock its 9th biggest position. Camden National Bank’s holdings in Republic Services were worth $11,051,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in RSG. AlphaCrest Capital Management LLC bought a new position in Republic Services in the 1st quarter worth approximately $326,000. FIL Ltd boosted its stake in Republic Services by 54.9% in the 1st quarter. FIL Ltd now owns 12,696 shares of the business services provider’s stock worth $1,021,000 after purchasing an additional 4,501 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Republic Services by 13.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 215,406 shares of the business services provider’s stock worth $17,315,000 after purchasing an additional 25,050 shares during the period. Trexquant Investment LP bought a new position in Republic Services in the 1st quarter worth approximately $1,129,000. Finally, Wealthfront Advisers LLC boosted its stake in Republic Services by 6.9% in the 1st quarter. Wealthfront Advisers LLC now owns 13,774 shares of the business services provider’s stock worth $1,107,000 after purchasing an additional 891 shares during the period. 58.79% of the stock is owned by institutional investors.
Several research firms have weighed in on RSG. Stifel Nicolaus set a $95.00 price target on Republic Services and gave the stock a “buy” rating in a research note on Monday, September 23rd. Royal Bank of Canada set a $91.00 price target on Republic Services and gave the stock a “hold” rating in a research note on Friday, July 26th. Raymond James set a $93.00 price target on Republic Services and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. began coverage on Republic Services in a research note on Wednesday, August 7th. They issued a “neutral” rating and a $94.00 price target for the company. Finally, ValuEngine downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $85.17.
In related news, CEO Donald W. Slager sold 48,891 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $90.00, for a total value of $4,400,190.00. Following the completion of the sale, the chief executive officer now directly owns 333,846 shares in the company, valued at $30,046,140. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $90.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now owns 14,307 shares of the company’s stock, valued at $1,287,630. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,117 shares of company stock valued at $13,240,530. 0.30% of the stock is owned by corporate insiders.
Shares of NYSE RSG traded down $0.49 during midday trading on Friday, reaching $86.38. 770,452 shares of the stock traded hands, compared to its average volume of 1,089,435. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $27.86 billion, a PE ratio of 27.95, a P/E/G ratio of 2.92 and a beta of 0.49. Republic Services, Inc. has a one year low of $67.48 and a one year high of $90.61. The company’s 50 day moving average is $87.22 and its 200 day moving average is $85.41.
Republic Services (NYSE:RSG) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.62 billion. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. As a group, equities analysts forecast that Republic Services, Inc. will post 3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.405 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, September 30th. Republic Services’s dividend payout ratio is currently 52.43%.
Republic Services 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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