MetLife Investment Management LLC Sells 1,507 Shares of Republic Services, Inc. (NYSE:RSG)

MetLife Investment Management LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,101 shares of the business services provider’s stock after selling 1,507 shares during the period. MetLife Investment Management LLC’s holdings in Republic Services were worth $10,665,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RSG. Simmons Bank lifted its stake in Republic Services by 2.8% in the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 51 shares during the last quarter. RFG Advisory LLC raised its stake in Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 53 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after purchasing an additional 53 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after buying an additional 54 shares during the period. Finally, Hexagon Capital Partners LLC raised its holdings in Republic Services by 4.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $218.28 on Friday. The company’s 50-day moving average is $205.88 and its 200 day moving average is $199.69. The company has a market capitalization of $68.35 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. Republic Services, Inc. has a one year low of $159.10 and a one year high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the firm posted $1.54 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.06%. Republic Services’s payout ratio is 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. William Blair began coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC lifted their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.