Republic Services, Inc. (NYSE:RSG) Shares Bought by Putnam Investments LLC
Putnam Investments LLC raised its holdings in Republic Services, Inc. (NYSE:RSG) by 3,819.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,540 shares of the business services provider’s stock after purchasing an additional 130,133 shares during the period. Putnam Investments LLC’s holdings in Republic Services were worth $9,129,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. BP PLC acquired a new stake in Republic Services in the second quarter worth $1,914,000. Bank of America Corp DE increased its position in Republic Services by 11.7% in the second quarter. Bank of America Corp DE now owns 8,681,132 shares of the business services provider’s stock worth $593,441,000 after buying an additional 909,717 shares during the period. Richard Bernstein Advisors LLC grew its stake in shares of Republic Services by 18.8% in the second quarter. Richard Bernstein Advisors LLC now owns 59,035 shares of the business services provider’s stock worth $4,036,000 after purchasing an additional 9,341 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Republic Services by 2.5% in the second quarter. Van ECK Associates Corp now owns 32,800 shares of the business services provider’s stock worth $2,242,000 after purchasing an additional 801 shares in the last quarter. Finally, BB&T Securities LLC grew its stake in shares of Republic Services by 4.0% in the second quarter. BB&T Securities LLC now owns 44,536 shares of the business services provider’s stock worth $3,043,000 after purchasing an additional 1,695 shares in the last quarter. 60.69% of the stock is currently owned by institutional investors.
In other news, CEO Donald W. Slager sold 91,334 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $73.04, for a total transaction of $6,671,035.36. Following the completion of the sale, the chief executive officer now directly owns 378,023 shares of the company’s stock, valued at approximately $27,610,799.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 225,734 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $73.02, for a total value of $16,483,096.68. Following the sale, the insider now directly owns 378,023 shares of the company’s stock, valued at $27,603,239.46. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. Republic Services had a return on equity of 11.65% and a net margin of 13.51%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 3.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a $0.375 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.35. This represents a $1.50 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, September 28th. Republic Services’s dividend payout ratio is currently 61.73%.
Several research analysts have recently issued reports on RSG shares. Stifel Nicolaus increased their price target on Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Bank of America increased their price target on Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. ValuEngine raised Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, BMO Capital Markets increased their price target on Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research report on Thursday, August 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $75.00.
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.
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