Republic Services, Inc. (RSG) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,033 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Ingalls & Snyder LLC’s holdings in Republic Services were worth $1,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Republic Services by 2.2% in the second quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after purchasing an additional 418,797 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Republic Services by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock valued at $453,398,000 after purchasing an additional 23,456 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Republic Services by 2.2% in the third quarter. Wells Fargo & Company MN now owns 5,201,905 shares of the business services provider’s stock valued at $343,639,000 after purchasing an additional 114,211 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Republic Services by 2.7% in the third quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock valued at $254,177,000 after purchasing an additional 102,801 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Republic Services by 0.3% in the third quarter. Gamco Investors INC. ET AL now owns 2,663,050 shares of the business services provider’s stock valued at $175,921,000 after purchasing an additional 7,903 shares in the last quarter. 59.97% of the stock is owned by hedge funds and other institutional investors.

Shares of Republic Services, Inc. (RSG) opened at $68.20 on Friday. The firm has a market capitalization of $22,697.19, a P/E ratio of 28.90, a PEG ratio of 3.10 and a beta of 0.60. Republic Services, Inc. has a fifty-two week low of $56.83 and a fifty-two week high of $69.12. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. sell-side analysts predict that Republic Services, Inc. will post 2.4 EPS for the current fiscal year.

Republic Services announced that its Board of Directors has authorized a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, December 29th. Republic Services’s payout ratio is currently 58.47%.

In related news, CEO Donald W. Slager sold 98,132 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the completion of the sale, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at $20,703,906.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Brian A. Goebel sold 1,290 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total value of $88,287.60. Following the sale, the chief accounting officer now directly owns 6,696 shares of the company’s stock, valued at $458,274.24. The disclosure for this sale can be found here. Insiders sold 135,843 shares of company stock valued at $8,733,225 over the last three months. Corporate insiders own 0.40% of the company’s stock.

A number of brokerages recently issued reports on RSG. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets lowered their price target on Republic Services from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Zacks Investment Research downgraded Republic Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Credit Suisse Group lowered their price target on Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Finally, Bank of America lowered their price target on Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.14.

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About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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