Earnest Partners LLC Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

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Earnest Partners LLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 836,214 shares of the business services provider’s stock after purchasing an additional 31,130 shares during the period. Earnest Partners LLC owned about 0.26% of Republic Services worth $72,450,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First Bank & Trust purchased a new position in Republic Services in the second quarter worth about $35,000. Gemmer Asset Management LLC raised its stake in shares of Republic Services by 140.2% in the second quarter. Gemmer Asset Management LLC now owns 454 shares of the business services provider’s stock worth $39,000 after buying an additional 265 shares during the period. Glassman Wealth Services raised its stake in shares of Republic Services by 44.9% in the first quarter. Glassman Wealth Services now owns 507 shares of the business services provider’s stock worth $41,000 after buying an additional 157 shares during the period. Motco bought a new position in shares of Republic Services in the second quarter worth about $62,000. Finally, Knuff & Co LLC raised its stake in shares of Republic Services by 966.7% in the first quarter. Knuff & Co LLC now owns 800 shares of the business services provider’s stock worth $64,000 after buying an additional 725 shares during the period. 59.64% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on RSG. Raymond James set a $93.00 price objective on Republic Services and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $91.00 target price on Republic Services and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. initiated coverage on Republic Services in a research note on Wednesday, August 7th. They set a “neutral” rating and a $94.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.67.

NYSE:RSG opened at $86.13 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41. Republic Services, Inc. has a 1 year low of $67.48 and a 1 year high of $90.61. The stock’s 50 day simple moving average is $88.89 and its two-hundred day simple moving average is $84.31. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.93 and a beta of 0.50.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts anticipate that Republic Services, Inc. will post 3.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.405 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.62 dividend on an annualized basis and a yield of 1.88%. Republic Services’s payout ratio is presently 48.54%.

In other Republic Services news, CEO Donald W. Slager sold 48,891 shares of Republic Services stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $90.00, for a total value of $4,400,190.00. Following the sale, the chief executive officer now owns 333,846 shares of the company’s stock, valued at approximately $30,046,140. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Donald W. Slager sold 95,126 shares of Republic Services stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $90.00, for a total value of $8,561,340.00. Following the completion of the sale, the chief executive officer now directly owns 382,736 shares in the company, valued at approximately $34,446,240. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,117 shares of company stock worth $13,240,530. Corporate insiders own 0.30% of the company’s stock.

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, landfills, or recycling processing centers; 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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