OppenheimerFunds Inc. Acquires 117,922 Shares of Republic Services, Inc. (RSG)

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OppenheimerFunds Inc. lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,415,120 shares of the business services provider’s stock after purchasing an additional 117,922 shares during the period. OppenheimerFunds Inc. owned about 0.74% of Republic Services worth $175,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RSG. First Hawaiian Bank acquired a new position in shares of Republic Services in the third quarter worth about $119,000. Braun Bostich & Associates Inc. boosted its holdings in shares of Republic Services by 531.6% in the second quarter. Braun Bostich & Associates Inc. now owns 1,819 shares of the business services provider’s stock worth $124,000 after buying an additional 1,531 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Republic Services by 57.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,936 shares of the business services provider’s stock worth $132,000 after buying an additional 704 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Republic Services in the second quarter worth about $178,000. Finally, Cerebellum GP LLC acquired a new position in shares of Republic Services in the third quarter worth about $186,000. 60.02% of the stock is currently owned by institutional investors.

RSG stock opened at $75.03 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.95. The company has a market cap of $24.68 billion, a P/E ratio of 30.88, a P/E/G ratio of 2.32 and a beta of 0.55. Republic Services, Inc. has a 52 week low of $60.26 and a 52 week high of $78.54.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. As a group, analysts anticipate that Republic Services, Inc. will post 3.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, December 31st. Republic Services’s dividend payout ratio is currently 61.73%.

RSG has been the subject of several recent analyst reports. Oppenheimer reiterated a “hold” rating on shares of Republic Services in a report on Friday, October 26th. BMO Capital Markets decreased their target price on shares of Republic Services from $79.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Bank of America raised their target price on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, August 17th. Goldman Sachs Group upgraded shares of Republic Services to a “hold” rating and set a $79.00 target price for the company in a report on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Republic Services from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $74.38.

In related news, Director Jennifer M. Kirk purchased 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was acquired at an average cost of $72.35 per share, for a total transaction of $108,525.00. Following the completion of the acquisition, the director now owns 1,500 shares in the company, valued at approximately $108,525. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company’s stock.

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About Republic Services

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.

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

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