Republic Services, Inc. (RSG) to Distribute Quarterly Dividend of $0.62 on July 15th

Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Thursday, July 2nd will be paid a dividend of 0.625 per share by the business services provider on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd.

Republic Services has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Republic Services has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $8.03 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 31.1%.

Republic Services Price Performance

Shares of NYSE RSG opened at $214.82 on Tuesday. The stock has a market cap of $66.09 billion, a P/E ratio of 30.82, a P/E/G ratio of 3.56 and a beta of 0.41. Republic Services has a twelve month low of $196.41 and a twelve month high of $246.82. The stock has a 50 day moving average of $207.36 and a two-hundred day moving average of $214.12. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 EPS. On average, research analysts forecast that Republic Services will post 7.28 earnings per share for the current year.

Insiders Place Their Bets

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Republic Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSG. Laurel Wealth Advisors LLC purchased a new stake in Republic Services during the fourth quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services in the 3rd quarter worth about $26,000. Ameriflex Group Inc. bought a new position in Republic Services during the third quarter valued at approximately $29,000. Prosperity Bancshares Inc acquired a new stake in shares of Republic Services in the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Republic Services in the fourth quarter worth about $32,000. 57.73% of the stock is owned by institutional investors.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.