Cetera Investment Advisers Sells 5,272 Shares of Republic Services, Inc. (NYSE:RSG)

Cetera Investment Advisers decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,380 shares of the business services provider’s stock after selling 5,272 shares during the period. Cetera Investment Advisers’ holdings in Republic Services were worth $12,123,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new position in shares of Republic Services during the first quarter worth approximately $29,000. EntryPoint Capital LLC acquired a new position in Republic Services during the first quarter worth $29,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services during the second quarter valued at about $36,000. Indiana Trust & Investment Management CO bought a new stake in shares of Republic Services during the second quarter worth about $45,000. Finally, J.Safra Asset Management Corp raised its holdings in shares of Republic Services by 584.2% in the 1st quarter. J.Safra Asset Management Corp now owns 260 shares of the business services provider’s stock worth $50,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. BMO Capital Markets lifted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. CIBC lifted their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, TD Cowen upped their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.65.

Republic Services Price Performance

RSG opened at $200.67 on Friday. The firm has a 50-day moving average price of $202.55 and a 200-day moving average price of $194.91. The company has a market capitalization of $63.02 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 3.21 and a beta of 0.69. Republic Services, Inc. has a twelve month low of $141.80 and a twelve month high of $208.69. 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 (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Equities analysts expect that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.16%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 40.70%.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction 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 in the company, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

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.