Renaissance Technologies LLC Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Renaissance Technologies LLC trimmed its position in Republic Services, Inc. (NYSE:RSG) by 3.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 345,066 shares of the business services provider’s stock after selling 10,500 shares during the period. Renaissance Technologies LLC’s holdings in Republic Services were worth $67,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. YHB Investment Advisors Inc. bought a new position in Republic Services during the first quarter valued at approximately $29,000. EntryPoint Capital LLC bought a new position in Republic Services during the first quarter valued at approximately $29,000. Jones Financial Companies Lllp grew its position in Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 211 shares during the last quarter. Indiana Trust & Investment Management CO bought a new position in Republic Services during the second quarter valued at approximately $45,000. Finally, J.Safra Asset Management Corp grew its position in Republic Services by 584.2% during the first quarter. J.Safra Asset Management Corp now owns 260 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 222 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $205.41 on Tuesday. The stock has a market cap of $64.51 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70. The firm’s fifty day simple moving average is $202.04 and its 200 day simple moving average is $193.39. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, research analysts predict that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.13%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. CIBC increased their price target on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Oppenheimer cut their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Robert W. Baird raised their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. BMO Capital Markets raised their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Republic Services presently has a consensus rating of “Hold” and a consensus price target of $211.00.

Insider Buying and Selling at Republic Services

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

Republic Services Profile

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.