Successful Portfolios LLC Cuts Position in Republic Services, Inc. (NYSE:RSG)

Successful Portfolios LLC cut its stake in Republic Services, Inc. (NYSE:RSG) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,649 shares of the business services provider’s stock after selling 179 shares during the quarter. Successful Portfolios LLC’s holdings in Republic Services were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares during the period. Capital World Investors increased its holdings in shares of Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after acquiring an additional 1,346,588 shares during the period. Legal & General Group Plc increased its holdings in shares of Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after acquiring an additional 92,013 shares during the period. TD Asset Management Inc boosted its position in shares of Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after purchasing an additional 3,809 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

NYSE:RSG traded up $0.77 during trading hours on Friday, hitting $203.85. 64,225 shares of the stock were exchanged, compared to its average volume of 1,149,171. Republic Services, Inc. has a 52-week low of $142.65 and a 52-week high of $208.69. The firm’s fifty day moving average price is $203.19 and its 200 day moving average price is $195.23. 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 cap of $64.20 billion, a P/E ratio of 35.63, a P/E/G ratio of 3.29 and a beta of 0.69.

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

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services’s dividend payout ratio is 40.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RSG shares. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Raymond James lowered their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. William Blair started coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. TD Cowen raised their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada raised their price objective on Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.65.

Insider Activity

In other 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 completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.