Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Republic Services, Inc. (NYSE:RSG)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 93.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,660 shares of the business services provider’s stock after selling 89,354 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Republic Services were worth $1,275,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Unigestion Holding SA increased its holdings in shares of Republic Services by 2,178.2% in the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after purchasing an additional 122,044 shares during the period. Bank of Nova Scotia increased its holdings in Republic Services by 52.3% in the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after buying an additional 73,651 shares during the period. TCW Group Inc. purchased a new position in Republic Services during the 4th quarter worth approximately $17,903,000. Hsbc Holdings PLC increased its stake in shares of Republic Services by 8.7% in the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after acquiring an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Republic Services by 10.4% during the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after purchasing an additional 55,668 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Trading Down 5.2 %

NYSE:RSG traded down $10.33 on Thursday, reaching $189.34. The company’s stock had a trading volume of 2,359,818 shares, compared to its average volume of 1,208,219. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $206.54. The stock has a 50 day moving average price of $192.17 and a 200 day moving average price of $185.65. The firm has a market cap of $59.63 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 3.37 and a beta of 0.69. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. Republic Services’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.23%. 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. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Insider Buying and Selling at Republic Services

In related news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The shares were acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. Scotiabank increased their price target on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Wednesday. CIBC increased their price target on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Robert W. Baird raised their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.69.

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.