Robeco Institutional Asset Management B.V. reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,862,997 shares of the business services provider’s stock after selling 13,238 shares during the period. Robeco Institutional Asset Management B.V. owned 0.57% of Republic Services worth $135,410,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. First Hawaiian Bank acquired a new position in shares of Republic Services during the 3rd quarter worth about $119,000. Braun Bostich & Associates Inc. increased its stake in shares of Republic Services by 531.6% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock worth $124,000 after purchasing an additional 1,531 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Republic Services by 57.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock worth $132,000 after purchasing an additional 704 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Republic Services during the 3rd quarter worth about $186,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Republic Services during the 2nd quarter worth about $178,000. Hedge funds and other institutional investors own 60.89% of the company’s stock.
Shares of RSG stock opened at $74.74 on Friday. The stock has a market cap of $23.81 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.23 and a beta of 0.54. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.95. Republic Services, Inc. has a 52 week low of $60.26 and a 52 week high of $75.82.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 25th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. On average, research analysts forecast that Republic Services, Inc. will post 3.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, December 31st. Republic Services’s dividend payout ratio (DPR) is presently 61.73%.
In other news, Director Jennifer M. Kirk acquired 1,500 shares of Republic Services stock in a transaction dated Wednesday, October 31st. The shares were bought at an average cost of $72.35 per share, with a total value of $108,525.00. Following the purchase, the director now owns 1,500 shares in the company, valued at approximately $108,525. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Donald W. Slager sold 225,734 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $73.02, for a total transaction of $16,483,096.68. Following the completion of the sale, the insider now directly owns 378,023 shares in the company, valued at $27,603,239.46. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
RSG has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of 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 boosted their price objective on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, October 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.71.
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Republic Services Profile
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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