Republic Services, Inc. (NYSE:RSG) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,540 shares of the business services provider’s stock after selling 43,036 shares during the quarter. Millennium Management LLC owned 0.06% of Republic Services worth $38,584,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new stake in shares of Republic Services in the first quarter worth about $29,000. EntryPoint Capital LLC purchased a new stake in Republic Services in the 1st quarter worth approximately $29,000. Jones Financial Companies Lllp grew 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 purchasing an additional 211 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services in the 2nd quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in Republic Services during the second quarter worth $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RSG. CIBC upped their price objective on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their price objective on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Oppenheimer reduced their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Raymond James dropped their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, BMO Capital Markets upped their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $211.00.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction 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 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 available at this link. 0.09% of the stock is owned by insiders.

Republic Services Stock Performance

NYSE:RSG opened at $201.28 on Wednesday. The company’s 50-day moving average is $202.08 and its two-hundred day moving average is $194.68. The firm has a market capitalization of $63.22 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 3.20 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, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69.

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

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is 37.54%.

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.