Citizens Financial Group Inc. RI Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Citizens Financial Group Inc. RI grew its position in Republic Services, Inc. (NYSE:RSG) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,920 shares of the business services provider’s stock after purchasing an additional 1,270 shares during the period. Citizens Financial Group Inc. RI’s holdings in Republic Services were worth $1,992,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in Republic Services by 15.2% during the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after buying an additional 746 shares during the period. Lifeworks Advisors LLC lifted its holdings in shares of Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after acquiring an additional 19,698 shares in the last quarter. PGGM Investments boosted its position in Republic Services by 264.3% during the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after purchasing an additional 6,415 shares during the period. YCG LLC increased its holdings in Republic Services by 2.2% in the 3rd quarter. YCG LLC now owns 208,232 shares of the business services provider’s stock valued at $41,821,000 after purchasing an additional 4,428 shares in the last quarter. Finally, AXA S.A. raised its position in Republic Services by 1.8% in the second quarter. AXA S.A. now owns 640,563 shares of the business services provider’s stock valued at $124,487,000 after purchasing an additional 11,408 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $214.06 on Friday. The business has a 50 day simple moving average of $204.34 and a 200-day simple moving average of $198.65. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $216.18. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 3.22 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 posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the firm posted $1.54 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced 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. This represents a $2.32 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. CIBC lifted their price objective 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. BMO Capital Markets raised their price target on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James lowered their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.