Public Employees Retirement Association of Colorado lowered its stake in Republic Services, Inc. (NYSE:RSG) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,654 shares of the business services provider’s stock after selling 2,595 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Republic Services were worth $2,686,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Republic Services by 0.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock worth $307,000 after purchasing an additional 16 shares in the last quarter. MUFG Americas Holdings Corp lifted its stake in Republic Services by 0.4% in the 2nd quarter. MUFG Americas Holdings Corp now owns 4,971 shares of the business services provider’s stock worth $317,000 after purchasing an additional 20 shares in the last quarter. Blue Chip Partners Inc. lifted its stake in Republic Services by 0.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 4,763 shares of the business services provider’s stock worth $304,000 after purchasing an additional 25 shares in the last quarter. Pinnacle Financial Partners Inc. lifted its stake in Republic Services by 1.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock worth $210,000 after purchasing an additional 60 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Republic Services by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock worth $342,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 60.71% of the company’s stock.

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Several analysts have recently issued reports on the stock. Stifel Nicolaus cut shares of Republic Services from a “buy” rating to a “hold” rating and decreased their target price for the company from $76.00 to $70.00 in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub cut shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Royal Bank Of Canada restated an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. Finally, KeyCorp restated a “hold” rating on shares of Republic Services in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $67.71.

Shares of Republic Services, Inc. (NYSE RSG) opened at $64.14 on Wednesday. The stock has a market cap of $21,239.97, a PE ratio of 26.48, a PEG ratio of 3.09 and a beta of 0.61. Republic Services, Inc. has a 1 year low of $51.59 and a 1 year high of $67.18. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. sell-side analysts anticipate that Republic Services, Inc. will post 2.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.345 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.38 annualized dividend and a yield of 2.15%. Republic Services’s payout ratio is 58.47%.

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

In related news, EVP Catharine D. Ellingsen sold 14,250 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.02, for a total transaction of $940,785.00. Following the transaction, the executive vice president now directly owns 8,007 shares in the company, valued at approximately $528,622.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the transaction, the executive vice president now owns 428 shares in the company, valued at $28,462. The disclosure for this sale can be found here. Insiders have sold a total of 43,187 shares of company stock worth $2,854,922 over the last quarter. 0.40% of the stock is currently owned by insiders.

Republic Services Company Profile

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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