Forsta AP Fonden lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 41.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,194 shares of the business services provider’s stock after selling 53,955 shares during the quarter. Forsta AP Fonden’s holdings in Republic Services were worth $5,033,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Evercore Wealth Management LLC lifted its position in Republic Services by 48.6% during the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after purchasing an additional 521 shares during the period. Sun Life Financial INC lifted its position in Republic Services by 20,900.0% during the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. bought a new stake in Republic Services during the second quarter worth about $141,000. Whittier Trust Co. of Nevada Inc. lifted its position in Republic Services by 59.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in Republic Services during the second quarter worth about $191,000. 60.71% of the stock is owned by institutional investors.

Republic Services, Inc. (NYSE:RSG) opened at $63.97 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51. The company has a market cap of $21,356.95, a PE ratio of 26.63, a P/E/G ratio of 2.88 and a beta of 0.61.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. equities research analysts predict that Republic Services, Inc. will post 2.37 earnings per share for the current fiscal year.

Republic Services announced that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.16%. Republic Services’s dividend payout ratio is currently 58.47%.

RSG has been the subject of several research analyst reports. Bank of America Corporation lowered their target price on Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Credit Suisse Group set a $69.00 target price on Republic Services and gave the stock a “hold” rating in a research note on Saturday, July 29th. KeyCorp reissued a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a research note on Friday, August 25th. Finally, Stifel Nicolaus downgraded Republic Services from a “buy” rating to a “hold” rating and lowered their target price for the stock from $76.00 to $70.00 in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.29.

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In related news, insider Donald W. Slager sold 22,608 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.05, for a total value of $1,493,258.40. Following the sale, the insider now directly owns 246,617 shares in the company, valued at $16,289,052.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.02, for a total value of $940,785.00. Following the completion of the sale, the executive vice president now owns 8,007 shares in the company, valued at $528,622.14. The disclosure for this sale can be found here. Insiders sold 43,187 shares of company stock valued at $2,854,922 in the last ninety days. 0.40% of the stock is currently owned by insiders.

About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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