Republic Services, Inc. (NYSE:RSG) Holdings Decreased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its stake in Republic Services, Inc. (NYSE:RSG) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,233 shares of the business services provider’s stock after selling 93 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Republic Services were worth $1,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RSG. Simmons Bank lifted its holdings in shares of Republic Services by 2.8% in the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after buying an additional 51 shares during the period. RFG Advisory LLC lifted its holdings in Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Republic Services by 2.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after purchasing an additional 53 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after purchasing an additional 54 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 55 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer boosted their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. CIBC boosted their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Trading Up 0.4 %

NYSE RSG opened at $218.80 on Wednesday. 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, Inc. has a 1-year low of $159.10 and a 1-year high of $219.94. The firm’s fifty day simple moving average is $205.15 and its 200-day simple moving average is $199.43. The company has a market capitalization of $68.52 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70.

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 company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

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.