Ontario Teachers Pension Plan Board Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Ontario Teachers Pension Plan Board reduced its stake in Republic Services, Inc. (NYSE:RSG) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,312 shares of the business services provider’s stock after selling 1,312 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Republic Services were worth $264,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its holdings in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Republic Services during the 1st quarter worth about $29,000. Webster Bank N. A. purchased a new stake in Republic Services during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Republic Services in the second quarter worth about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Republic Services during the third quarter worth about $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Up 1.3 %

RSG opened at $216.79 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $216.86. The company has a market cap of $67.89 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 3.22 and a beta of 0.70. The company has a 50-day moving average price of $204.56 and a 200 day moving average price of $198.86.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.12 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RSG shares. TD Cowen raised their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. CIBC upped their target price on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Scotiabank started coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.