Martingale Asset Management L P Sells 27,600 Shares of Republic Services, Inc. (NYSE:RSG)

Martingale Asset Management L P decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,992 shares of the business services provider’s stock after selling 27,600 shares during the quarter. Martingale Asset Management L P’s holdings in Republic Services were worth $31,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. Wolff Wiese Magana LLC raised its position 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 worth $28,000 after acquiring an additional 109 shares during the last quarter. Webster Bank N. A. bought a new stake in shares of Republic Services during the third quarter worth $31,000. Truvestments Capital LLC bought a new stake in shares of Republic Services during the third quarter worth $34,000. Itau Unibanco Holding S.A. bought a new stake in Republic Services in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in Republic Services in the third quarter valued at about $39,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $218.28 on Friday. The firm has a market cap of $68.35 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 1-year low of $159.10 and a 1-year high of $220.58. The business’s 50 day moving average is $205.88 and its 200-day moving average is $199.69.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 earnings per share. Equities research analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several analyst reports. TD Cowen increased their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer increased their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.