Republic Services, Inc. (NYSE:RSG) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,550 shares of the business services provider’s stock after selling 781 shares during the quarter. King Luther Capital Management Corp’s holdings in Republic Services were worth $10,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Unigestion Holding SA raised its stake in Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares during the period. Bank of Nova Scotia increased its stake in Republic Services by 52.3% during the fourth quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after acquiring an additional 73,651 shares during the last quarter. TCW Group Inc. purchased a new stake in Republic Services in the fourth quarter valued at $17,903,000. Hsbc Holdings PLC grew its holdings in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after purchasing an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Republic Services by 10.4% in the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after buying an additional 55,668 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reduced their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Robert W. Baird upped their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. CIBC boosted their price objective on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets increased their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Hold” and an average price target of $211.00.

Republic Services Trading Up 0.2 %

Shares of Republic Services stock opened at $201.39 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The firm has a market cap 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. The company’s 50-day simple moving average is $202.28 and its 200-day simple moving average is $193.72.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

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

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, 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 filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services 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.