Eqis Capital Management Inc. Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Eqis Capital Management Inc. lessened its stake in Republic Services, Inc. (NYSE:RSG) by 15.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,239 shares of the business services provider’s stock after selling 765 shares during the quarter. Eqis Capital Management Inc.’s holdings in Republic Services were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in Republic Services by 4.5% in the third quarter. Wells Fargo & Company MN now owns 4,169,489 shares of the business services provider’s stock valued at $389,222,000 after purchasing an additional 177,693 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Republic Services by 20.9% in the second quarter. Bank of New York Mellon Corp now owns 2,022,562 shares of the business services provider’s stock valued at $165,951,000 after purchasing an additional 350,073 shares during the last quarter. Bank of America Corp DE grew its stake in Republic Services by 12.8% in the second quarter. Bank of America Corp DE now owns 1,994,247 shares of the business services provider’s stock valued at $163,629,000 after purchasing an additional 226,779 shares during the last quarter. Nordea Investment Management AB grew its stake in Republic Services by 43.9% in the second quarter. Nordea Investment Management AB now owns 1,687,630 shares of the business services provider’s stock valued at $136,360,000 after purchasing an additional 514,494 shares during the last quarter. Finally, Chilton Investment Co. LLC grew its stake in Republic Services by 9.1% in the third quarter. Chilton Investment Co. LLC now owns 1,318,681 shares of the business services provider’s stock valued at $123,099,000 after purchasing an additional 110,283 shares during the last quarter. Institutional investors own 57.21% of the company’s stock.

Republic Services stock opened at $98.86 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $65.37 and a 52 week high of $103.79. The company has a market capitalization of $31.51 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 3.68 and a beta of 0.61. The stock has a 50-day moving average price of $94.42 and a 200 day moving average price of $88.52.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.17. Republic Services had a return on equity of 13.41% and a net margin of 10.35%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Republic Services, Inc. will post 3.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 31st. Republic Services’s dividend payout ratio is currently 50.90%.

Republic Services declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Several equities analysts have issued reports on the company. Jefferies Financial Group upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $102.00 to $110.00 in a research note on Monday, October 19th. Oppenheimer reissued a “buy” rating on shares of Republic Services in a report on Monday, August 10th. Raymond James raised their price target on Republic Services from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Morgan Stanley raised their price target on Republic Services from $94.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Finally, JPMorgan Chase & Co. downgraded Republic Services from an “overweight” rating to a “neutral” rating and set a $99.00 price target for the company. in a report on Wednesday, September 23rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $96.43.

In related news, COO Timothy E. Stuart sold 14,710 shares of Republic Services stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $95.20, for a total transaction of $1,400,392.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Donald W. Slager sold 32,748 shares of Republic Services stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $91.06, for a total value of $2,982,032.88. Following the transaction, the chief executive officer now owns 375,027 shares of the company’s stock, valued at $34,149,958.62. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. 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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