Republic Services, Inc. (NYSE:RSG) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in Republic Services, Inc. (NYSE:RSG) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 52,550 shares of the business services provider’s stock after selling 781 shares during the period. King Luther Capital Management Corp’s holdings in Republic Services were worth $10,213,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brown Advisory Inc. increased its stake in Republic Services by 6.2% during the fourth quarter. Brown Advisory Inc. now owns 11,542 shares of the business services provider’s stock worth $1,903,000 after acquiring an additional 678 shares during the last quarter. Gladstone Institutional Advisory LLC raised its holdings in Republic Services by 19.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,785 shares of the business services provider’s stock valued at $294,000 after buying an additional 295 shares during the period. Wells Fargo & Company MN lifted its position in Republic Services by 4.4% during the fourth quarter. Wells Fargo & Company MN now owns 247,955 shares of the business services provider’s stock valued at $40,890,000 after buying an additional 10,509 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Republic Services in the fourth quarter worth $446,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Republic Services by 3.3% during the 4th quarter. D.A. Davidson & CO. now owns 12,418 shares of the business services provider’s stock valued at $2,048,000 after acquiring an additional 392 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

NYSE RSG opened at $201.39 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69. The company has a market cap of $63.42 billion, a PE ratio of 35.33, a PEG ratio of 3.30 and a beta of 0.70. The stock’s 50-day moving average price is $202.28 and its two-hundred day moving average price is $193.72.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. On average, analysts predict that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

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

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RSG. Stifel Nicolaus boosted their price objective on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen raised their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. BMO Capital Markets boosted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Robert W. Baird lifted their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Hold” and a consensus price target of $211.00.

Republic Services Company 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.