Acadian Asset Management LLC Decreases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Acadian Asset Management LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 492,383 shares of the business services provider’s stock after selling 80,490 shares during the quarter. Acadian Asset Management LLC owned about 0.16% of Republic Services worth $95,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Republic Services in the second quarter valued at about $97,000. Cobblestone Capital Advisors LLC NY raised its holdings in shares of Republic Services by 1,815.9% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 39,257 shares of the business services provider’s stock valued at $7,629,000 after buying an additional 37,208 shares during the period. General American Investors Co. Inc. boosted its holdings in Republic Services by 24.2% in the 2nd quarter. General American Investors Co. Inc. now owns 435,625 shares of the business services provider’s stock worth $84,659,000 after acquiring an additional 84,928 shares during the period. Advisor OS LLC grew its position in Republic Services by 39.6% in the second quarter. Advisor OS LLC now owns 3,595 shares of the business services provider’s stock valued at $699,000 after acquiring an additional 1,019 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Republic Services during the second quarter valued at approximately $201,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSG has been the subject of several analyst reports. Robert W. Baird upped their target price on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. CIBC raised their target price on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on Republic Services in a research note on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price target on the stock. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada increased their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Hold” and an average target price of $211.00.

Insider Transactions at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of NYSE RSG opened at $202.82 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. The firm’s 50-day moving average price is $200.65 and its two-hundred day moving average price is $192.43. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The stock has a market capitalization of $63.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, sell-side analysts forecast 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. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is 37.54%.

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.