Van ECK Associates Corp Trims Holdings in Republic Services, Inc. (NYSE:RSG)

Van ECK Associates Corp lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,099 shares of the business services provider’s stock after selling 3,556 shares during the period. Van ECK Associates Corp’s holdings in Republic Services were worth $8,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RSG. TD Asset Management Inc boosted its position in Republic Services by 424.7% during the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after acquiring an additional 1,393,918 shares in the last quarter. Capital World Investors boosted its position in Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after acquiring an additional 1,346,588 shares in the last quarter. M&G Plc bought a new stake in Republic Services during the 1st quarter valued at approximately $130,892,000. International Assets Investment Management LLC boosted its position in Republic Services by 83,671.9% during 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 in the last quarter. Finally, Earnest Partners LLC boosted its position in Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after acquiring an additional 182,645 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $207.07 on Thursday. The business’s fifty day moving average price is $203.21 and its 200-day moving average price is $197.10. The stock has a market capitalization of $64.84 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 3.07 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $154.49 and a 1-year high of $208.69.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for 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 company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 1.12%. Republic Services’s dividend payout ratio is currently 37.12%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. CIBC lifted their price objective on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. William Blair initiated coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Robert W. Baird boosted their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s 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 sale, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

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.