Republic Services, Inc. $RSG Stock Sold by M&G PLC

M&G PLC reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,195,901 shares of the business services provider’s stock after selling 35,646 shares during the quarter. Republic Services accounts for approximately 1.3% of M&G PLC’s portfolio, making the stock its 20th largest holding. M&G PLC owned 0.39% of Republic Services worth $251,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Focus Financial Network Inc. increased its stake in Republic Services by 2.5% in the second quarter. Focus Financial Network Inc. now owns 1,861 shares of the business services provider’s stock valued at $397,000 after purchasing an additional 46 shares during the last quarter. Secure Asset Management LLC grew its position in Republic Services by 3.3% during the third quarter. Secure Asset Management LLC now owns 1,455 shares of the business services provider’s stock valued at $305,000 after acquiring an additional 47 shares during the period. AlphaCentric Advisors LLC increased its stake in Republic Services by 5.9% during the first quarter. AlphaCentric Advisors LLC now owns 903 shares of the business services provider’s stock worth $198,000 after acquiring an additional 50 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in Republic Services by 47.3% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider’s stock worth $35,000 after acquiring an additional 52 shares during the last quarter. Finally, Burford Brothers Inc. raised its holdings in shares of Republic Services by 2.8% in the 2nd quarter. Burford Brothers Inc. now owns 1,944 shares of the business services provider’s stock worth $414,000 after purchasing an additional 53 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

RSG stock opened at $246.65 on Tuesday. The firm has a market cap of $75.14 billion, a P/E ratio of 34.12, a P/E/G ratio of 4.08 and a beta of 0.32. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $254.39. The stock’s 50 day simple moving average is $225.44 and its 200 day simple moving average is $217.86. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the business posted $1.90 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services’s dividend payout ratio (DPR) is currently 37.07%.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 409,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average price of $221.49 per share, with a total value of $90,700,155.00. Following the completion of the acquisition, the insider directly owned 116,166,330 shares in the company, valued at approximately $25,729,680,431.70. This trade represents a 0.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 5,752,798 shares of company stock worth $1,272,176,181 in the last quarter. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

RSG has been the subject of a number of research reports. Citigroup boosted their target price on Republic Services from $259.00 to $281.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Scotiabank restated a “sector perform” rating and issued a $236.00 price target on shares of Republic Services in a report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Republic Services from $270.00 to $258.00 in a research report on Friday, October 9th. Weiss Ratings upgraded shares of Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Finally, Robert W. Baird increased their price objective on shares of Republic Services from $242.00 to $245.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.32.

Republic Services Profile

Republic Services, Inc provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials.

The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

Headquartered in Phoenix, Arizona, Republic Services is led by Chief Executive Officer Jon Vander Ark.