Erste Asset Management GmbH Buys New Position in Republic Services, Inc. (NYSE:RSG)

Erste Asset Management GmbH purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,542 shares of the business services provider’s stock, valued at approximately $11,879,000.

Several other hedge funds have also made changes to their positions in RSG. Wolff Wiese Magana LLC lifted its holdings in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. purchased a new stake in shares of Republic Services during the third quarter worth $31,000. Truvestments Capital LLC purchased a new position in Republic Services in the third quarter valued at $34,000. Itau Unibanco Holding S.A. acquired a new position in Republic Services during the 2nd quarter worth $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Republic Services during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Up 0.0 %

Shares of Republic Services stock opened at $218.30 on Monday. Republic Services, Inc. has a 1 year low of $159.38 and a 1 year high of $220.58. The company has a market capitalization of $68.36 billion, a P/E ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70. The company’s fifty day moving average is $206.22 and its two-hundred day moving average is $200.08. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.06%. Republic Services’s dividend payout ratio is currently 37.12%.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RSG. Oppenheimer lifted their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. William Blair started coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Morgan Stanley raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. CIBC boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

About Republic Services

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.