Republic Services, Inc. (RSG) Shares Sold by Martingale Asset Management L P
Martingale Asset Management L P decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 626,226 shares of the business services provider’s stock after selling 7,901 shares during the period. Martingale Asset Management L P’s holdings in Republic Services were worth $45,502,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of RSG. American Century Companies Inc. boosted its stake in Republic Services by 16.4% during the third quarter. American Century Companies Inc. now owns 7,468,603 shares of the business services provider’s stock valued at $542,669,000 after buying an additional 1,053,773 shares during the period. Unigestion Holding SA bought a new stake in Republic Services during the second quarter valued at $67,460,000. Bank of America Corp DE boosted its stake in Republic Services by 11.7% during the second quarter. Bank of America Corp DE now owns 8,681,132 shares of the business services provider’s stock valued at $593,441,000 after buying an additional 909,717 shares during the period. Morgan Stanley boosted its stake in Republic Services by 29.7% during the second quarter. Morgan Stanley now owns 1,600,693 shares of the business services provider’s stock valued at $109,424,000 after buying an additional 366,972 shares during the period. Finally, Millennium Management LLC boosted its stake in Republic Services by 2,835.0% during the second quarter. Millennium Management LLC now owns 284,162 shares of the business services provider’s stock valued at $19,425,000 after buying an additional 274,480 shares during the period. 60.19% of the stock is owned by institutional investors.
A number of research firms have weighed in on RSG. Oppenheimer restated a “hold” rating on shares of Republic Services in a research report on Friday, October 26th. BMO Capital Markets lowered their price target on Republic Services from $79.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Bank of America raised their price target on Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus raised their price target on Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Republic Services presently has an average rating of “Hold” and an average target price of $73.71.
Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. Republic Services had a return on equity of 12.11% and a net margin of 13.90%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. On average, analysts predict that Republic Services, Inc. will post 3.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 dividend on an annualized basis and a yield of 1.96%. Republic Services’s payout ratio is 61.73%.
In other news, Director Jennifer M. Kirk purchased 1,500 shares of the stock in a transaction on Wednesday, October 31st. The shares were acquired at an average price of $72.35 per share, for a total transaction of $108,525.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $108,525. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
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Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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