Republic Services, Inc. $RSG Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 7.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,255 shares of the business services provider’s stock after selling 8,556 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Republic Services were worth $23,710,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after purchasing an additional 3,303 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after buying an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after buying an additional 688 shares during the last quarter. Finally, Ieq Capital LLC increased its position in Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after buying an additional 4,729 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Down 0.3%

RSG opened at $210.75 on Friday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $238.62. The business has a 50-day moving average of $212.57 and a two-hundred day moving average of $214.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $64.84 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 3.52 and a beta of 0.40.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm posted $1.58 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that Republic Services, Inc. will post 7.29 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be issued a $0.67 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.3%. Republic Services’s dividend payout ratio (DPR) is 35.87%.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought a total of 987,150 shares of company stock valued at $202,366,682 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RSG shares. Robert W. Baird decreased their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Citigroup upped their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday, July 10th. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.