Woodley Farra Manion Portfolio Management Inc. trimmed its position in Republic Services, Inc. (NYSE:RSG) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 515,919 shares of the business services provider’s stock after selling 2,960 shares during the period. Republic Services makes up approximately 3.9% of Woodley Farra Manion Portfolio Management Inc.’s investment portfolio, making the stock its 10th largest holding. Woodley Farra Manion Portfolio Management Inc. owned 0.16% of Republic Services worth $37,487,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. First Hawaiian Bank bought a new stake in shares of Republic Services in the third quarter valued at about $119,000. Braun Bostich & Associates Inc. lifted its holdings in shares of Republic Services by 531.6% in the second quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,531 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Republic Services by 57.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 704 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Republic Services in the second quarter valued at about $178,000. Finally, Cerebellum GP LLC bought a new stake in shares of Republic Services in the third quarter valued at about $186,000. Institutional investors own 60.02% of the company’s stock.
A number of analysts have recently commented on RSG shares. Oppenheimer restated a “hold” rating on shares of Republic Services in a report on Friday, October 26th. Bank of America upped their target price on Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, August 17th. Goldman Sachs Group upgraded Republic Services to a “hold” rating and set a $79.00 target price on the stock in a report on Tuesday. BMO Capital Markets dropped their target price on Republic Services from $79.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Finally, Stifel Nicolaus upped their target price on Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.38.
RSG traded down $1.30 on Wednesday, hitting $76.05. 4,442,633 shares of the company were exchanged, compared to its average volume of 1,518,480. Republic Services, Inc. has a 12 month low of $60.26 and a 12 month high of $78.54. The firm has a market capitalization of $25.10 billion, a PE ratio of 31.30, a PEG ratio of 2.36 and a beta of 0.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.56 and a current ratio of 0.56.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Republic Services had a return on equity of 12.11% and a net margin of 13.90%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. On average, research analysts forecast that Republic Services, Inc. will post 3.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 annualized dividend and a yield of 1.97%. Republic Services’s payout ratio is presently 61.73%.
In other Republic Services news, Director Jennifer M. Kirk purchased 1,500 shares of the stock in a transaction on Wednesday, October 31st. The shares were purchased at an average price of $72.35 per share, with a total value of $108,525.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $108,525. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.
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Republic Services Company 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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