Robeco Institutional Asset Management B.V. reduced its position in Republic Services, Inc. (NYSE:RSG) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,736,752 shares of the business services provider’s stock after selling 70,233 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Republic Services were worth $150,466,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSG. Gemmer Asset Management LLC lifted its position in Republic Services by 140.2% during the 2nd quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after acquiring an additional 265 shares in the last quarter. CWM LLC raised its position in shares of Republic Services by 109.9% in the 1st quarter. CWM LLC now owns 468 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 245 shares in the last quarter. Dubuque Bank & Trust Co. raised its position in shares of Republic Services by 74.5% in the 1st quarter. Dubuque Bank & Trust Co. now owns 480 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 205 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Republic Services in the 1st quarter valued at approximately $40,000. Finally, Glassman Wealth Services raised its position in shares of Republic Services by 44.9% in the 1st quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 157 shares in the last quarter. 58.79% of the stock is currently owned by institutional investors and hedge funds.
RSG traded down $0.92 during trading on Wednesday, reaching $88.54. 16,872 shares of the company were exchanged, compared to its average volume of 829,122. The firm has a market capitalization of $29.04 billion, a PE ratio of 28.72, a P/E/G ratio of 2.92 and a beta of 0.50. The business’s 50 day moving average price is $87.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.42 and a current ratio of 0.41. Republic Services, Inc. has a 52 week low of $67.48 and a 52 week high of $90.60.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Monday, September 30th. This is a positive change from Republic Services’s previous quarterly dividend of $0.38. Republic Services’s payout ratio is 48.54%.
A number of equities analysts have issued reports on RSG shares. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Bank of America reaffirmed a “neutral” rating and issued a $85.00 target price (up from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Royal Bank of Canada set a $91.00 price target on Republic Services and gave the company a “hold” rating in a report on Friday, July 26th. UBS Group boosted their price target on Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Raymond James set a $93.00 price target on Republic Services and gave the company an “outperform” rating in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Republic Services has a consensus rating of “Hold” and a consensus price target of $83.64.
In other Republic Services news, EVP Catharine D. Ellingsen sold 3,100 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now owns 14,307 shares in the company, valued at approximately $1,287,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian A. Bales sold 22,831 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $82.67, for a total value of $1,887,438.77. Following the completion of the sale, the executive vice president now owns 23,804 shares of the company’s stock, valued at approximately $1,967,876.68. The disclosure for this sale can be found here. Insiders have sold a total of 95,897 shares of company stock valued at $7,949,828 in the last quarter. 0.30% of the stock is currently owned by insiders.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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