Republic Services, Inc. (NYSE:RSG) Stake Lowered by Stephens Inc. AR

Stephens Inc. AR cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,410 shares of the business services provider’s stock after selling 2,259 shares during the period. Stephens Inc. AR’s holdings in Republic Services were worth $3,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AustralianSuper Pty Ltd acquired a new position in shares of Republic Services during the third quarter worth approximately $812,000. HM Payson & Co. increased its stake in shares of Republic Services by 13.5% during the third quarter. HM Payson & Co. now owns 3,202 shares of the business services provider’s stock valued at $643,000 after acquiring an additional 382 shares during the period. Cornerstone Wealth Group LLC raised its holdings in Republic Services by 1.0% during the third quarter. Cornerstone Wealth Group LLC now owns 19,462 shares of the business services provider’s stock worth $3,909,000 after purchasing an additional 193 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Republic Services by 25.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,816 shares of the business services provider’s stock valued at $2,574,000 after purchasing an additional 2,631 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its stake in shares of Republic Services by 10.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,150 shares of the business services provider’s stock worth $231,000 after buying an additional 108 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on RSG shares. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. William Blair started coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Robert W. Baird increased their target price on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Oppenheimer increased their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Trading Up 0.3 %

Republic Services stock opened at $198.58 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $148.36 and a 12 month high of $208.69. The company’s fifty day simple moving average is $203.43 and its 200-day simple moving average is $196.81. The stock has a market cap of $62.19 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.23 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insiders Place Their Bets

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.