Cumberland Partners Ltd Sells 2,100 Shares of Republic Services, Inc. $RSG

Cumberland Partners Ltd lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,800 shares of the business services provider’s stock after selling 2,100 shares during the period. Cumberland Partners Ltd’s holdings in Republic Services were worth $2,170,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of RSG. Cranbrook Wealth Management LLC lifted its stake in shares of 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 period. TCTC Holdings LLC boosted its stake in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP bought a new position in Republic Services during the first quarter worth $30,000. NewSquare Capital LLC boosted its position in Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Finally, Atticus Wealth Management LLC bought a new position in shares of Republic Services in the 2nd quarter worth about $39,000. 57.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup cut their target price on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Jefferies Financial Group set a $248.00 price objective on shares of Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Barclays started coverage on shares of Republic Services in a research note on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research note on Thursday, November 13th. Finally, Wells Fargo & Company assumed coverage on Republic Services in a research note on Thursday, November 13th. They issued an “overweight” rating and a $238.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.91.

Insider Activity at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Trading Up 1.7%

Shares of Republic Services stock opened at $217.50 on Thursday. The company has a market capitalization of $67.33 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57. The stock has a fifty day simple moving average of $219.35 and a 200 day simple moving average of $234.32. Republic Services, Inc. has a 12-month low of $199.43 and a 12-month high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a $0.625 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 37.20%.

About Republic Services

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.