Oppenheimer Asset Management Inc. Has $676,000 Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Oppenheimer Asset Management Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 30.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,481 shares of the business services provider’s stock after selling 1,507 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Republic Services were worth $676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RSG. YHB Investment Advisors Inc. acquired a new position in shares of Republic Services in the 1st quarter valued at $29,000. EntryPoint Capital LLC bought a new stake in shares of Republic Services in the first quarter worth $29,000. Jones Financial Companies Lllp boosted its stake in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new position in Republic Services during the second quarter valued at approximately $45,000. Finally, J.Safra Asset Management Corp grew its stake in shares of Republic Services by 584.2% in the first quarter. J.Safra Asset Management Corp now owns 260 shares of the business services provider’s stock valued at $50,000 after buying an additional 222 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Trading Up 0.2 %

Shares of NYSE RSG opened at $201.39 on Friday. The firm has a 50-day moving average of $202.28 and a 200 day moving average of $193.72. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69. The stock has a market cap of $63.42 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 40.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RSG shares. Raymond James decreased their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price target on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird raised their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Oppenheimer reduced their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $211.00.

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.