Republic Services, Inc. (NYSE:RSG) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,925 shares of the business services provider’s stock after selling 175 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Republic Services were worth $957,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Unigestion Holding SA raised its holdings in shares of Republic Services by 2,178.2% in the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares during the period. Bank of Nova Scotia raised its holdings in shares of Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock valued at $35,357,000 after buying an additional 73,651 shares during the period. TCW Group Inc. purchased a new stake in shares of Republic Services during the 4th quarter valued at about $17,903,000. Hsbc Holdings PLC raised its holdings in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock valued at $75,297,000 after buying an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Republic Services by 10.4% during the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after buying an additional 55,668 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Up 1.1 %

NYSE:RSG opened at $208.21 on Friday. The firm has a market capitalization of $65.39 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 3.34 and a beta of 0.69. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average price is $199.49 and its 200 day moving average price is $191.40.

Republic Services (NYSE:RSG) last issued its 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed 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 a positive change 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 1.11%. Republic Services’s dividend payout ratio is currently 37.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. CIBC upped their target price on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Oppenheimer lowered their price target on Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Republic Services in a research note on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $211.00.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on 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 approximately $3,549,832.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the transaction, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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.