Canopy Partners LLC Lowers Position in Republic Services, Inc. (NYSE:RSG)

Canopy Partners LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,239 shares of the business services provider’s stock after selling 160 shares during the period. Canopy Partners LLC’s holdings in Republic Services were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after acquiring an additional 538,010 shares during the period. Earnest Partners LLC increased its stake in shares of Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Republic Services by 31.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 614,586 shares of the business services provider’s stock worth $123,434,000 after purchasing an additional 147,799 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Republic Services by 1,946.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock worth $26,484,000 after buying an additional 129,619 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Republic Services by 3,827.6% during the second quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock valued at $20,647,000 after acquiring an additional 103,536 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of Republic Services stock opened at $216.79 on Friday. The business has a 50-day simple moving average of $204.56 and a 200-day simple moving average of $198.86. 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, Inc. has a one year low of $159.10 and a one year high of $216.86. The company has a market cap of $67.89 billion, a PE ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70.

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 the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, equities research analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. 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 1.07%. Republic Services’s payout ratio is 37.12%.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated 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 sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen increased their price objective on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada increased 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 report on Wednesday, October 30th. Oppenheimer upped 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. Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Finally, CIBC upped 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. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.