USA Financial Formulas Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

USA Financial Formulas decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 80.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,511 shares of the business services provider’s stock after selling 6,104 shares during the period. USA Financial Formulas’ holdings in Republic Services were worth $304,000 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 RSG. FSA Wealth Management LLC bought a new position in Republic Services during the third quarter valued at approximately $25,000. Wolff Wiese Magana LLC lifted its position in Republic Services by 351.6% during 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 during the period. Webster Bank N. A. bought a new position in Republic Services during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in Republic Services during the third quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in Republic Services during the second quarter valued at approximately $36,000. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services 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 of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

RSG opened at $212.00 on Friday. The stock has a market capitalization of $66.39 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.98 and a beta of 0.73. The company has a fifty day moving average of $209.15 and a 200 day moving average of $204.24. Republic Services, Inc. has a fifty-two week low of $165.25 and a fifty-two week 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 posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.12 billion. During the same period last year, the company posted $1.54 earnings per share. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $0.58 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.09%. Republic Services’s payout ratio is currently 37.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Oppenheimer increased their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, CIBC increased their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.