M&T Bank Corp lifted its position in Republic Services (NYSE:RSG) by 13.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,561 shares of the business services provider’s stock after purchasing an additional 2,628 shares during the quarter. M&T Bank Corp’s holdings in Republic Services were worth $1,493,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in Republic Services during the fourth quarter worth $121,000. Benjamin F. Edwards & Company Inc. raised its stake in Republic Services by 507.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,823 shares of the business services provider’s stock worth $123,000 after acquiring an additional 1,523 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Republic Services by 1,070.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,937 shares of the business services provider’s stock worth $199,000 after acquiring an additional 2,686 shares in the last quarter. Focused Wealth Management Inc acquired a new position in Republic Services during the fourth quarter worth $199,000. Finally, Welch & Forbes LLC acquired a new position in Republic Services during the fourth quarter worth $201,000. Institutional investors and hedge funds own 61.50% of the company’s stock.
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Several research analysts have issued reports on RSG shares. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Monday, January 22nd. BMO Capital Markets dropped their price objective on Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. UBS started coverage on Republic Services in a research note on Wednesday, March 14th. They set a “buy” rating and a $78.00 price objective for the company. Credit Suisse Group dropped their price objective on Republic Services from $67.00 to $64.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Finally, Bank of America increased their price objective on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.14.
In other news, Director Ramon A. Rodriguez sold 4,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.27, for a total transaction of $265,080.00. Following the sale, the director now owns 4,118 shares in the company, valued at $272,899.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramon A. Rodriguez sold 8,118 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $66.62, for a total value of $540,821.16. Following the completion of the transaction, the director now owns 4,118 shares in the company, valued at approximately $274,341.16. The disclosure for this sale can be found here. Insiders have sold 25,854 shares of company stock worth $1,743,880 in the last 90 days. Company insiders own 0.30% of the company’s stock.
Shares of RSG stock opened at $66.61 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.95. The firm has a market cap of $21.84 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.54. Republic Services has a 52 week low of $60.26 and a 52 week high of $69.40.
Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, May 2nd. The business services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Republic Services had a return on equity of 11.29% and a net margin of 13.18%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. equities analysts predict that Republic Services will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, June 29th. Republic Services’s payout ratio is presently 56.79%.
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; supply of waste containers; and renting of compactors.