Insider Selling: Republic Services, Inc. (NYSE:RSG) Director Sells 1,859 Shares of Stock

Republic Services, Inc. (NYSE:RSG) Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Republic Services Stock Down 0.3 %

Republic Services stock opened at $211.63 on Wednesday. The company has a market capitalization of $66.27 billion, a P/E ratio of 33.86, a P/E/G ratio of 3.31 and a beta of 0.71. The firm’s fifty day simple moving average is $207.79 and its 200-day simple moving average is $201.26. 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 $160.65 and a 1-year high of $220.58.

Republic Services (NYSE:RSG) last released its quarterly earnings results 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. 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.10%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RSG shares. CIBC raised their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Scotiabank initiated 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 objective for the company. Royal Bank of Canada raised their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $219.88.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services in the 3rd quarter worth $6,102,000. Lifeworks Advisors LLC raised its holdings in Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after acquiring an additional 19,698 shares during the period. Assenagon Asset Management S.A. raised its holdings in Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after acquiring an additional 746 shares during the period. Quantbot Technologies LP bought a new position in Republic Services in the 3rd quarter worth $6,579,000. Finally, PGGM Investments raised its holdings in Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after acquiring an additional 6,415 shares during the period. Institutional investors own 57.73% of the company’s stock.

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.