Republic Services, Inc. (NYSE:RSG) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC lessened its stake in Republic Services, Inc. (NYSE:RSG) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,214 shares of the business services provider’s stock after selling 6,166 shares during the quarter. Republic Services comprises approximately 1.8% of Dearborn Partners LLC’s holdings, making the stock its 12th biggest holding. Dearborn Partners LLC owned approximately 0.07% of Republic Services worth $44,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors grew its position in Republic Services by 20.5% during the first 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. M&G Plc purchased a new stake in shares of Republic Services during the 1st quarter worth about $130,892,000. International Assets Investment Management LLC increased its position in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Earnest Partners LLC raised its holdings in Republic Services by 16.9% in the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after buying an additional 182,645 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after buying an additional 129,619 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. CIBC raised their target price on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Morgan Stanley increased their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Price Performance

Shares of NYSE RSG opened at $209.46 on Friday. The business has a 50 day simple moving average of $203.66 and a 200-day simple moving average of $197.79. Republic Services, Inc. has a twelve month low of $156.83 and a twelve month high of $216.18. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current 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 given 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 1.11%. Republic Services’s dividend payout ratio is currently 37.12%.

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.