Republic Services, Inc. $RSG Shares Acquired by OFI Invest Asset Management

OFI Invest Asset Management grew its stake in Republic Services, Inc. (NYSE:RSG) by 3.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 207,903 shares of the business services provider’s stock after buying an additional 6,440 shares during the quarter. OFI Invest Asset Management’s holdings in Republic Services were worth $47,710,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC lifted its stake in Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. NewSquare Capital LLC raised its holdings in shares of Republic Services by 68.5% in the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Republic Services during the 2nd quarter worth $33,000. Atticus Wealth Management LLC acquired a new position in shares of Republic Services during the second quarter worth $39,000. Finally, Hilltop National Bank purchased a new position in Republic Services in the second quarter valued at $47,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth purchased 478 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was acquired at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the acquisition, the director directly owned 5,740 shares of the company’s stock, valued at $1,202,300.40. This trade represents a 9.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $212.96 on Tuesday. Republic Services, Inc. has a 52 week low of $199.43 and a 52 week high of $258.75. The company has a 50-day moving average price of $213.92 and a 200 day moving average price of $228.34. The company has a market cap of $65.92 billion, a P/E ratio of 31.69, a PEG ratio of 3.41 and a beta of 0.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

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

Republic Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on RSG shares. UBS Group decreased their target price on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. The Goldman Sachs Group began coverage on shares of Republic Services in a research report on Monday, November 24th. They set a “buy” rating and a $255.00 price objective for the company. Scotiabank dropped their target price on shares of 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. Robert W. Baird set a $240.00 price target on shares of Republic Services in a research report on Friday, October 31st. Finally, Jefferies Financial Group set a $248.00 price objective on Republic Services and gave the stock a “buy” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $250.64.

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.