USA Financial Formulas Sells 2,426 Shares of Republic Services, Inc. $RSG

USA Financial Formulas lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 49.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,459 shares of the business services provider’s stock after selling 2,426 shares during the quarter. USA Financial Formulas’ holdings in Republic Services were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bowen Hanes & Co. Inc. increased its stake in shares of Republic Services by 7.3% in the second quarter. Bowen Hanes & Co. Inc. now owns 254,540 shares of the business services provider’s stock worth $62,772,000 after purchasing an additional 17,280 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Republic Services by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock worth $116,048,000 after buying an additional 43,387 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Republic Services in the 1st quarter valued at approximately $22,078,000. Ascent Group LLC lifted its position in shares of Republic Services by 6.3% during the second quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after acquiring an additional 1,130 shares in the last quarter. Finally, Groupe la Francaise boosted its holdings in shares of Republic Services by 88.7% in the second quarter. Groupe la Francaise now owns 58,142 shares of the business services provider’s stock worth $14,299,000 after acquiring an additional 27,338 shares during the period. 57.73% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Katharine Weymouth acquired 478 shares of Republic Services stock in a transaction dated Tuesday, December 9th. The shares were purchased at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the transaction, the director owned 5,740 shares of the company’s stock, valued at $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Republic Services Trading Down 0.2%

Shares of RSG opened at $212.97 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58. Republic Services, Inc. has a 1-year low of $199.43 and a 1-year high of $258.75. The company has a market capitalization of $65.93 billion, a P/E ratio of 31.69, a P/E/G ratio of 3.41 and a beta of 0.54. The firm’s 50 day simple moving average is $214.12 and its 200 day simple moving average is $228.80.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s payout ratio is 37.20%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group dropped their price objective on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Scotiabank decreased their price target on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company initiated coverage on shares of Republic Services in a research report on Thursday, November 13th. They issued an “overweight” rating and a $238.00 price objective for the company. Barclays began coverage on shares of Republic Services in a research note on Friday, September 19th. They set an “equal weight” rating and a $240.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $251.10.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.