Tower Research Capital LLC TRC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 29.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,723 shares of the business services provider’s stock after selling 2,434 shares during the period. Tower Research Capital LLC TRC’s holdings in Republic Services were worth $496,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RSG. Earnest Partners LLC raised its position in shares of Republic Services by 3.9% during the 2nd quarter. Earnest Partners LLC now owns 836,214 shares of the business services provider’s stock valued at $72,450,000 after purchasing an additional 31,130 shares during the period. BlackRock Inc. raised its position in shares of Republic Services by 2.7% during the 2nd quarter. BlackRock Inc. now owns 21,974,898 shares of the business services provider’s stock valued at $1,903,906,000 after purchasing an additional 581,754 shares during the period. HighTower Advisors LLC raised its position in shares of Republic Services by 14.6% during the 2nd quarter. HighTower Advisors LLC now owns 24,349 shares of the business services provider’s stock valued at $2,111,000 after purchasing an additional 3,111 shares during the period. AXA raised its position in shares of Republic Services by 7.1% during the 2nd quarter. AXA now owns 75,233 shares of the business services provider’s stock valued at $6,518,000 after purchasing an additional 5,000 shares during the period. Finally, United Capital Financial Advisers LLC raised its position in shares of Republic Services by 5.3% during the 2nd quarter. United Capital Financial Advisers LLC now owns 231,018 shares of the business services provider’s stock valued at $20,015,000 after purchasing an additional 11,649 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.
In other Republic Services news, CEO Donald W. Slager sold 48,891 shares of Republic Services stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $90.00, for a total value of $4,400,190.00. Following the completion of the transaction, the chief executive officer now directly owns 333,846 shares of the company’s stock, valued at approximately $30,046,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Catharine D. Ellingsen sold 3,100 shares of Republic Services stock in a transaction on Monday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now directly 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 quarter, insiders sold 147,117 shares of company stock worth $13,240,530. 0.30% of the stock is currently owned by insiders.
NYSE RSG traded down $0.05 on Wednesday, reaching $85.55. The company had a trading volume of 363,435 shares, compared to its average volume of 975,450. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $27.31 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.90 and a beta of 0.50. The firm’s 50 day moving average price is $88.52 and its 200 day moving average price is $84.50. Republic Services, Inc. has a 12 month low of $67.48 and a 12 month high of $90.61.
Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. Republic Services had a net margin of 10.32% and a return on equity of 12.86%. Republic Services’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. On average, research analysts expect that Republic Services, Inc. will post 3.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.405 dividend. 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 yield of 1.89%. The ex-dividend date is Monday, September 30th. Republic Services’s payout ratio is currently 48.54%.
About Republic Services
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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