Republic Services, Inc. (NYSE:RSG) Stock Position Raised by Zacks Investment Management

Zacks Investment Management boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 13.2% during the third quarter, HoldingsChannel.com reports. The fund owned 201,401 shares of the business services provider’s stock after acquiring an additional 23,497 shares during the period. Zacks Investment Management’s holdings in Republic Services were worth $40,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FSA Wealth Management LLC acquired a new position in Republic Services during the 3rd quarter valued at approximately $25,000. Wolff Wiese Magana LLC boosted its holdings in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the period. Webster Bank N. A. bought a new position in shares of Republic Services during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Republic Services during the 2nd quarter valued at about $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RSG shares. CIBC increased their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley raised their price target on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the company from $211.00 to $238.00 in a research note on Friday. Finally, Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.88.

Republic Services Stock Performance

Shares of RSG opened at $216.70 on Friday. Republic Services, Inc. has a 52 week low of $160.41 and a 52 week high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $67.86 billion, a PE ratio of 34.67, a PEG ratio of 3.29 and a beta of 0.71. The company’s 50 day moving average price is $207.21 and its 200 day moving average price is $200.67.

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

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s dividend payout ratio is 37.12%.

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.