Point72 Asia Singapore Pte. Ltd. Trims Holdings in Republic Services, Inc. (NYSE:RSG)

Point72 Asia Singapore Pte. Ltd. cut its stake in Republic Services, Inc. (NYSE:RSG) by 43.4% in the third quarter, Holdings Channel reports. The fund owned 1,171 shares of the business services provider’s stock after selling 898 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Republic Services were worth $235,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc lifted its holdings in Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after acquiring an additional 92,013 shares during the last quarter. TD Asset Management Inc grew its position in Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Republic Services by 4.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,477,807 shares of the business services provider’s stock valued at $296,803,000 after purchasing an additional 63,500 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several research analyst reports. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Morgan Stanley boosted their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Republic Services Stock Performance

Shares of RSG stock opened at $214.89 on Wednesday. The company has a market cap of $67.29 billion, a P/E ratio of 34.38, a PEG ratio of 3.29 and a beta of 0.71. The firm has a fifty day moving average price of $206.69 and a 200 day moving average price of $200.46. 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 12 month low of $160.38 and a 12 month high of $220.58.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.08%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

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.