BBVA USA Bancshares Inc. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,436 shares of the business services provider’s stock after purchasing an additional 159 shares during the quarter. BBVA USA Bancshares Inc.’s holdings in Republic Services were worth $2,623,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in RSG. First Trust Advisors LP lifted its holdings in shares of Republic Services by 828.1% during the second quarter. First Trust Advisors LP now owns 786,139 shares of the business services provider’s stock worth $64,503,000 after purchasing an additional 701,438 shares during the period. Ceredex Value Advisors LLC purchased a new position in Republic Services during the second quarter valued at approximately $47,172,000. Nordea Investment Management AB raised its position in Republic Services by 43.9% during the second quarter. Nordea Investment Management AB now owns 1,687,630 shares of the business services provider’s stock valued at $136,360,000 after acquiring an additional 514,494 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Republic Services during the second quarter valued at approximately $34,592,000. Finally, Bank of New York Mellon Corp raised its position in Republic Services by 20.9% during the second quarter. Bank of New York Mellon Corp now owns 2,022,562 shares of the business services provider’s stock valued at $165,951,000 after acquiring an additional 350,073 shares in the last quarter. 57.21% of the stock is owned by hedge funds and other institutional investors.
NYSE RSG opened at $87.40 on Friday. Republic Services, Inc. has a fifty-two week low of $65.37 and a fifty-two week high of $100.91. The stock’s fifty day moving average is $93.65 and its two-hundred day moving average is $86.56. The firm has a market capitalization of $27.84 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 3.68 and a beta of 0.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.76 and a current ratio of 0.76.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.21. Republic Services had a return on equity of 13.41% and a net margin of 10.35%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 3.17 EPS for the current year.
A number of analysts have recently commented on RSG shares. Morgan Stanley started coverage on Republic Services in a research report on Tuesday, October 13th. They issued an “equal weight” rating and a $94.00 price objective for the company. Oppenheimer restated a “buy” rating on shares of Republic Services in a research report on Monday, August 10th. Zacks Investment Research cut Republic Services from a “buy” rating to a “hold” rating and set a $98.00 price objective for the company. in a research report on Tuesday, October 20th. JPMorgan Chase & Co. cut Republic Services from an “overweight” rating to a “neutral” rating and set a $99.00 price objective for the company. in a research report on Wednesday, September 23rd. Finally, Argus boosted their price objective on Republic Services from $95.00 to $102.00 in a research report on Thursday, August 27th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $94.50.
In other news, President Ark Jon Vander sold 16,246 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $90.74, for a total value of $1,474,162.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Donald W. Slager sold 80,439 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.63, for a total value of $7,370,625.57. Following the completion of the transaction, the chief executive officer now directly owns 370,708 shares in the company, valued at approximately $33,967,974.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,418 shares of company stock worth $13,343,263. Corporate insiders own 0.20% of the company’s stock.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. 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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