Amalgamated Bank Lowers Position in Republic Services, Inc. (NYSE:RSG)

Amalgamated Bank cut its stake in Republic Services, Inc. (NYSE:RSGGet Rating) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,819 shares of the business services provider’s stock after selling 3,783 shares during the quarter. Amalgamated Bank’s holdings in Republic Services were worth $7,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC raised its stake in shares of Republic Services by 9.8% in the first quarter. Park Avenue Securities LLC now owns 5,756 shares of the business services provider’s stock worth $763,000 after purchasing an additional 512 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Republic Services by 8.0% in the first quarter. Daiwa Securities Group Inc. now owns 13,890 shares of the business services provider’s stock worth $1,840,000 after purchasing an additional 1,029 shares during the last quarter. Advisor Partners LLC raised its stake in shares of Republic Services by 8.3% in the first quarter. Advisor Partners LLC now owns 12,369 shares of the business services provider’s stock worth $1,639,000 after purchasing an additional 943 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Republic Services by 22.9% during the first quarter. MetLife Investment Management LLC now owns 56,849 shares of the business services provider’s stock valued at $7,532,000 after acquiring an additional 10,611 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of Republic Services by 0.5% during the first quarter. Sigma Planning Corp now owns 22,222 shares of the business services provider’s stock valued at $2,945,000 after acquiring an additional 113 shares during the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ark Jon Vander sold 14,100 shares of Republic Services stock in a transaction on Monday, August 8th. The stock was sold at an average price of $142.49, for a total value of $2,009,109.00. Following the completion of the transaction, the chief executive officer now directly owns 59,619 shares in the company, valued at $8,495,111.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Republic Services Stock Performance

Shares of RSG opened at $143.64 on Friday. The firm has a market cap of $45.38 billion, a PE ratio of 32.94, a PEG ratio of 2.69 and a beta of 0.70. The stock’s fifty day moving average price is $140.45 and its two-hundred day moving average price is $134.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.73 and a quick ratio of 0.73. Republic Services, Inc. has a 1 year low of $113.57 and a 1 year high of $149.17.

Republic Services (NYSE:RSGGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The business services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.14. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.30 billion. Republic Services had a return on equity of 16.18% and a net margin of 11.31%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities research analysts forecast that Republic Services, Inc. will post 4.78 EPS for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a $0.495 dividend. The ex-dividend date of this dividend is Friday, September 30th. This is a boost from Republic Services’s previous quarterly dividend of $0.46. This represents a $1.98 annualized dividend and a dividend yield of 1.38%. Republic Services’s payout ratio is 42.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RSG shares. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 15th. Oppenheimer increased their price target on Republic Services from $139.00 to $154.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Morgan Stanley increased their price target on Republic Services from $147.00 to $157.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Republic Services from $147.00 to $158.00 in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.33.

About Republic Services

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Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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