Republic Services, Inc. (NYSE:RSG) Shares Purchased by Sycomore Asset Management

Sycomore Asset Management lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 13.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,884 shares of the business services provider’s stock after buying an additional 1,610 shares during the quarter. Sycomore Asset Management’s holdings in Republic Services were worth $2,787,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Lifeworks Advisors LLC lifted its position in shares of Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after buying an additional 19,698 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Republic Services by 9.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,155 shares of the business services provider’s stock worth $1,236,000 after purchasing an additional 534 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Republic Services by 1.6% in the third quarter. Metis Global Partners LLC now owns 6,730 shares of the business services provider’s stock worth $1,352,000 after buying an additional 105 shares during the period. KBC Group NV boosted its holdings in shares of Republic Services by 1.9% in the third quarter. KBC Group NV now owns 90,490 shares of the business services provider’s stock worth $18,174,000 after buying an additional 1,660 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of Republic Services by 1.1% during the third quarter. Huntington National Bank now owns 11,222 shares of the business services provider’s stock worth $2,254,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 1.9 %

Shares of NYSE RSG traded down $4.07 during mid-day trading on Thursday, hitting $210.61. 237,614 shares of the stock traded hands, compared to its average volume of 1,120,349. The company has a market cap of $65.95 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 3.25 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a fifty day moving average price of $203.66 and a 200-day moving average price of $197.79. Republic Services, Inc. has a 52 week low of $156.83 and a 52 week high of $216.18.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.10%. Republic Services’s dividend payout ratio is presently 37.12%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RSG shares. BMO Capital Markets lifted their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Scotiabank began coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Oppenheimer lifted their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $215.71.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services 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.