National Bank of Canada FI Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

National Bank of Canada FI lessened its position in Republic Services, Inc. (NYSE:RSG) by 57.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 232,117 shares of the business services provider’s stock after selling 313,496 shares during the quarter. National Bank of Canada FI’s holdings in Republic Services were worth $46,716,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RSG. Public Sector Pension Investment Board raised its holdings in Republic Services by 17.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,761 shares of the business services provider’s stock valued at $1,358,000 after acquiring an additional 1,000 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Republic Services by 5.6% in the third quarter. Ascent Group LLC now owns 4,529 shares of the business services provider’s stock valued at $910,000 after purchasing an additional 240 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Republic Services by 26.6% during the third quarter. Hilltop Holdings Inc. now owns 2,011 shares of the business services provider’s stock worth $404,000 after buying an additional 422 shares in the last quarter. HighTower Advisors LLC boosted its stake in Republic Services by 1.5% during the third quarter. HighTower Advisors LLC now owns 27,359 shares of the business services provider’s stock worth $5,488,000 after buying an additional 406 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its stake in shares of Republic Services by 48.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 7,307 shares of the business services provider’s stock worth $1,468,000 after acquiring an additional 2,400 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of RSG opened at $244.66 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $245.00. The company has a market cap of $76.40 billion, a P/E ratio of 37.70, a PEG ratio of 3.64 and a beta of 0.73. The firm’s 50 day moving average price is $229.51 and its 200 day moving average price is $214.60.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $1.41 earnings per share. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. Republic Services’s dividend payout ratio is currently 35.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RSG shares. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a report on Tuesday, March 4th. The Goldman Sachs Group increased their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Argus set a $260.00 price target on shares of Republic Services in a research report on Tuesday, February 18th. Stifel Nicolaus increased their price objective on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $236.88.

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.