Republic Services, Inc. (NYSE:RSG) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,619 shares of the business services provider’s stock after selling 2,892 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Republic Services were worth $9,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. EntryPoint Capital LLC acquired a new position in shares of Republic Services during the first quarter worth about $29,000. Webster Bank N. A. purchased a new stake in Republic Services during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services in the 2nd quarter valued at approximately $36,000. Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services during the 2nd quarter valued at approximately $45,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Republic Services during the second quarter worth approximately $49,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.7 %

NYSE:RSG opened at $205.89 on Tuesday. The stock has a fifty day simple moving average of $203.49 and a 200 day simple moving average of $195.50. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. Sell-side analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. Republic Services’s payout ratio is presently 38.86%.

Insiders Place Their Bets

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RSG. Stifel Nicolaus increased their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair assumed coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. BMO Capital Markets lifted their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, CIBC upped their price target on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $211.65.

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.