Republic Services, Inc. (RSG) Shares Sold by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,862,997 shares of the business services provider’s stock after selling 13,238 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Republic Services were worth $135,410,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of RSG. First Hawaiian Bank bought a new position in shares of Republic Services in the third quarter valued at $119,000. Braun Bostich & Associates Inc. raised its holdings in shares of Republic Services by 531.6% in the second quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,531 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Republic Services by 57.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 704 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Republic Services in the second quarter valued at about $178,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Republic Services in the third quarter valued at about $186,000. 60.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Jennifer M. Kirk acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was acquired at an average price of $72.35 per share, for a total transaction of $108,525.00. Following the completion of the acquisition, the director now owns 1,500 shares of the company’s stock, valued at approximately $108,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald W. Slager sold 225,734 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $73.02, for a total transaction of $16,483,096.68. Following the sale, the insider now owns 378,023 shares of the company’s stock, valued at approximately $27,603,239.46. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. On average, equities research analysts anticipate that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 dividend on an annualized basis and a yield of 2.01%. Republic Services’s dividend payout ratio (DPR) is presently 61.73%.
RSG has been the subject of several analyst reports. Oppenheimer reiterated a “hold” rating on shares of Republic Services in a report on Friday, October 26th. BMO Capital Markets lowered their target price on shares of Republic Services from $79.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Bank of America increased their target price on shares of Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a report on Friday, August 17th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus increased their target price on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a report on Monday, September 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $73.71.
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Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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