Oppenheimer Asset Management Inc. Sells 1,507 Shares of Republic Services, Inc. (NYSE:RSG)

Oppenheimer Asset Management Inc. lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 30.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,481 shares of the business services provider’s stock after selling 1,507 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Republic Services were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new stake in Republic Services in the 1st quarter valued at about $29,000. EntryPoint Capital LLC purchased a new position in Republic Services in the 1st quarter worth $29,000. Jones Financial Companies Lllp lifted its holdings in shares of Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares during the period. Indiana Trust & Investment Management CO acquired a new position in Republic Services during the second quarter valued at $45,000. Finally, Johnson Financial Group Inc. purchased a new position in Republic Services during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RSG shares. CIBC lifted their price target on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price objective on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Raymond James cut their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Hold” and an average target price of $211.00.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Stock Up 0.2 %

RSG stock opened at $201.39 on Friday. The firm’s 50-day moving average is $202.28 and its two-hundred day moving average is $193.72. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $63.42 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 40.70%.

Republic Services Company 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.