Republic Services, Inc. (NYSE:RSG) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,800 shares of the business services provider’s stock after selling 1,000 shares during the period. Cornerstone Advisors LLC’s holdings in Republic Services were worth $1,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. RFG Advisory LLC raised its position in Republic Services by 0.5% during the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Republic Services by 2.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after acquiring an additional 54 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after buying an additional 55 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Republic Services by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.2 %

NYSE RSG opened at $205.41 on Tuesday. The company’s fifty day simple moving average is $202.04 and its 200-day simple moving average is $193.39. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The stock has a market cap of $64.51 billion, a P/E ratio of 36.04, a PEG ratio of 3.29 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. Equities research analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.13%. Republic Services’s dividend payout ratio is currently 37.54%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s 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 sale, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. CIBC lifted 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, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target for the company. TD Cowen lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus boosted their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $211.00.

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.