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

London Co. of Virginia reduced its stake in Republic Services, Inc. (NYSE:RSG) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,206 shares of the business services provider’s stock after selling 4,387 shares during the quarter. London Co. of Virginia owned about 0.11% of Republic Services worth $81,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ignite Planners LLC lifted its holdings in shares of Republic Services by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock worth $376,000 after acquiring an additional 43 shares during the last quarter. L2 Asset Management LLC raised its position in Republic Services by 5.0% during the second quarter. L2 Asset Management LLC now owns 908 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 43 shares in the last quarter. Gries Financial LLC lifted its stake in Republic Services by 3.8% during the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock worth $308,000 after purchasing an additional 46 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Republic Services by 17.8% during the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 46 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in shares of Republic Services by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 7,232 shares of the business services provider’s stock valued at $1,783,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Republic Services stock opened at $213.55 on Friday. Republic Services, Inc. has a 1-year low of $199.43 and a 1-year high of $258.75. The firm has a market cap 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 company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average of $215.06 and a 200-day moving average of $230.44.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, topping 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 business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the business posted $1.81 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays started coverage on shares of Republic Services in a research report on Friday, September 19th. They set an “equal weight” rating and a $240.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Stifel Nicolaus lowered their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Sanford C. Bernstein assumed coverage on Republic Services in a research note on Wednesday, November 12th. They set a “market perform” rating and a $205.00 price objective on the stock. Finally, Robert W. Baird set a $240.00 target price on Republic Services in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $251.10.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth bought 478 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were purchased at an average price of $209.46 per share, with a total value of $100,121.88. Following the purchase, the director 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Republic Services 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.