London Co. of Virginia Trims Holdings in Republic Services, Inc. $RSG

London Co. of Virginia reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 331,206 shares of the business services provider’s stock after selling 4,387 shares during the period. London Co. of Virginia’s holdings in Republic Services were worth $81,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Republic Services in the 2nd quarter worth approximately $690,313,000. M&G PLC increased its position in Republic Services by 113.0% during the 2nd quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock valued at $287,670,000 after buying an additional 617,939 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Republic Services by 174.6% in the second quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock worth $169,038,000 after acquiring an additional 435,816 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Republic Services by 21.3% during the second quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock valued at $573,443,000 after acquiring an additional 408,885 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 1.1%

Shares of RSG stock opened at $213.55 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $199.43 and a 12-month high of $258.75. The stock has a market capitalization of $66.11 billion, a P/E ratio of 31.78, a P/E/G ratio of 3.38 and a beta of 0.54. The firm’s 50 day moving average is $215.06 and its 200 day moving average is $230.44.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the firm earned $1.81 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, January 2nd. Republic Services’s payout ratio is currently 37.20%.

Insider Activity at Republic Services

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

Analysts Set New Price Targets

RSG has been the topic of a number of analyst reports. UBS Group dropped their price target on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. The Goldman Sachs Group initiated coverage on shares of Republic Services in a report on Monday, November 24th. They set a “buy” rating and a $255.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $251.10.

Republic Services Company Profile

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.