Republic Services, Inc. (NYSE:RSG) Shares Sold by DnB Asset Management AS

DnB Asset Management AS lessened its stake in Republic Services, Inc. (NYSE:RSGGet Rating) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,619 shares of the business services provider’s stock after selling 104 shares during the period. DnB Asset Management AS’s holdings in Republic Services were worth $7,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Appleton Partners Inc. MA increased its holdings in shares of Republic Services by 2.4% in the 2nd quarter. Appleton Partners Inc. MA now owns 65,066 shares of the business services provider’s stock valued at $8,515,000 after acquiring an additional 1,517 shares during the period. AdvisorNet Financial Inc increased its stake in Republic Services by 4.0% in the second quarter. AdvisorNet Financial Inc now owns 3,015 shares of the business services provider’s stock valued at $395,000 after purchasing an additional 116 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Republic Services in the second quarter valued at about $263,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Republic Services during the first quarter worth about $25,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Republic Services during the 1st quarter valued at approximately $115,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $143.64 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.26. Republic Services, Inc. has a fifty-two week low of $113.57 and a fifty-two week high of $149.17. The firm’s fifty day simple moving average is $140.45 and its 200-day simple moving average is $134.23. The stock has a market cap of $45.38 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.65 and a beta of 0.70.

Republic Services (NYSE:RSGGet Rating) last issued its earnings results on Thursday, August 4th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.31% and a return on equity of 16.18%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Analysts expect that Republic Services, Inc. will post 4.78 earnings per share for the current fiscal year.

Republic Services Increases Dividend

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

Insider Activity

In related news, CEO Ark Jon Vander sold 14,100 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $142.49, for a total value of $2,009,109.00. Following the sale, the chief executive officer now directly owns 59,619 shares in the company, valued at approximately $8,495,111.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

RSG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Republic Services from $147.00 to $158.00 in a report on Tuesday, August 9th. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 15th. Oppenheimer lifted their target price on shares of Republic Services from $139.00 to $154.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Finally, Morgan Stanley increased their price target on shares of Republic Services from $147.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.33.

Republic Services Profile

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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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