Republic Services, Inc. (NYSE:RSG) Holdings Trimmed by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 7.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,660 shares of the business services provider’s stock after selling 290 shares during the period. Gateway Investment Advisers LLC’s holdings in Republic Services were worth $701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. LPL Financial LLC grew its position in Republic Services by 33.7% during the 3rd quarter. LPL Financial LLC now owns 205,398 shares of the business services provider’s stock worth $29,271,000 after purchasing an additional 51,767 shares in the last quarter. Federated Hermes Inc. grew its position in Republic Services by 6.5% during the 3rd quarter. Federated Hermes Inc. now owns 11,488 shares of the business services provider’s stock worth $1,637,000 after purchasing an additional 705 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Republic Services by 7.8% during the 3rd quarter. Natixis Advisors L.P. now owns 118,282 shares of the business services provider’s stock valued at $16,857,000 after acquiring an additional 8,575 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Republic Services by 3.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 70,369 shares of the business services provider’s stock valued at $10,028,000 after acquiring an additional 2,505 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Republic Services during the 3rd quarter valued at $2,676,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katharine Weymouth purchased 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, with a total value of $100,040.40. Following the transaction, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Stock Down 0.1 %

Republic Services stock opened at $194.42 on Wednesday. The firm has a market cap of $61.23 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 3.27 and a beta of 0.68. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. Republic Services, Inc. has a fifty-two week low of $140.23 and a fifty-two week high of $196.76. The firm has a fifty day moving average price of $188.43 and a two-hundred day moving average price of $180.70.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. As a group, analysts forecast that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. The Goldman Sachs Group boosted their price target on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target on the stock. Oppenheimer upped their price objective on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Scotiabank upped their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.14.

About Republic Services

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.