Principal Street Partners LLC Reduces Position in Republic Services, Inc. (NYSE:RSG)

Principal Street Partners LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 66.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,088 shares of the business services provider’s stock after selling 2,127 shares during the period. Principal Street Partners LLC’s holdings in Republic Services were worth $216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wolff Wiese Magana LLC grew its position 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 valued at $28,000 after purchasing an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Republic Services during the 1st quarter valued at about $29,000. Webster Bank N. A. purchased a new stake in shares of Republic Services in the third quarter worth about $31,000. Truvestments Capital LLC bought a new position in shares of Republic Services in the third quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Republic Services during the 2nd quarter worth approximately $36,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.4 %

Shares of RSG opened at $218.80 on Wednesday. The stock has a market capitalization of $68.52 billion, a P/E ratio of 35.01, a PEG ratio of 3.33 and a beta of 0.70. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $219.94. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a fifty day simple moving average of $205.15 and a two-hundred day simple moving average of $199.43.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. 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 1.06%. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

RSG has been the topic of a number of recent analyst reports. CIBC increased their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Finally, William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.71.

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.