Cullen Investment Group LTD. Sells 132 Shares of Republic Services, Inc. (NYSE:RSG)

Cullen Investment Group LTD. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,241 shares of the business services provider’s stock after selling 132 shares during the period. Cullen Investment Group LTD.’s holdings in Republic Services were worth $1,457,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of Republic Services in the third quarter valued at $25,000. Wolff Wiese Magana LLC raised its holdings in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. acquired a new stake in shares of Republic Services during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services during the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Republic Services in the second quarter valued at approximately $36,000. 57.73% of the stock is currently owned by institutional investors.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $206.98 on Tuesday. The company has a market capitalization of $64.82 billion, a PE ratio of 33.12, a P/E/G ratio of 3.30 and a beta of 0.73. Republic Services, Inc. has a 52-week low of $165.06 and a 52-week high of $220.58. The company has a 50-day simple moving average of $209.00 and a 200-day simple moving average of $204.11. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

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, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. Republic Services’s revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.12%. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. CIBC upped their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Oppenheimer lifted their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Finally, Scotiabank started coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.12.

About Republic Services

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.