Harel Insurance Investments & Financial Services Ltd. Takes $470,000 Position in Republic Services, Inc. (NYSE:RSG)

Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 5,432 shares of the business services provider’s stock, valued at approximately $470,000.

Several other hedge funds also recently modified their holdings of the company. First Bank & Trust bought a new position in Republic Services during the second quarter valued at $35,000. Gemmer Asset Management LLC raised its stake in shares of Republic Services by 140.2% in the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock valued at $39,000 after buying an additional 265 shares during the period. Gradient Investments LLC raised its stake in shares of Republic Services by 896.1% in the third quarter. Gradient Investments LLC now owns 508 shares of the business services provider’s stock valued at $44,000 after buying an additional 457 shares during the period. Usca Ria LLC bought a new stake in shares of Republic Services in the third quarter valued at $45,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Republic Services during the 3rd quarter valued at $50,000. Institutional investors own 59.46% of the company’s stock.

RSG traded up $0.81 during trading on Wednesday, reaching $86.83. 36,062 shares of the company were exchanged, compared to its average volume of 1,118,047. Republic Services, Inc. has a 12-month low of $68.94 and a 12-month high of $90.61. The company’s 50-day moving average is $86.52 and its two-hundred day moving average is $86.57. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.97. The company has a market cap of $27.50 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 3.13 and a beta of 0.49.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Republic Services had a net margin of 10.58% and a return on equity of 13.13%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts forecast that Republic Services, Inc. will post 3.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, January 1st. Republic Services’s dividend payout ratio is presently 52.43%.

RSG has been the subject of several research reports. Berenberg Bank reiterated a “buy” rating and set a $115.00 price target on shares of Republic Services in a research note on Friday, October 25th. Raymond James set a $93.00 target price on shares of Republic Services and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lowered their price target on shares of Republic Services from $92.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, ValuEngine downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $89.37.

In related news, CEO Donald W. Slager sold 48,891 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $90.00, for a total value of $4,400,190.00. Following the transaction, the chief executive officer now directly owns 333,846 shares in the company, valued at $30,046,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Donald W. Slager sold 95,126 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $90.00, for a total transaction of $8,561,340.00. Following the completion of the sale, the chief executive officer now directly owns 382,736 shares in the company, valued at $34,446,240. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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