DNB Asset Management AS Sells 18,727 Shares of Republic Services, Inc. $RSG

DNB Asset Management AS lowered its stake in Republic Services, Inc. (NYSE:RSG) by 16.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,038 shares of the business services provider’s stock after selling 18,727 shares during the period. DNB Asset Management AS’s holdings in Republic Services were worth $23,931,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RSG. Ignite Planners LLC raised its position in shares of Republic Services by 2.8% during the second 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. Gries Financial LLC raised its holdings in Republic Services by 3.8% during the 2nd 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 lifted its position in 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 period. Hemington Wealth Management grew its position in shares of Republic Services by 6.2% during the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock worth $195,000 after buying an additional 47 shares during the period. Finally, Empirical Finance LLC raised its stake in shares of Republic Services by 0.7% during the second quarter. Empirical Finance LLC now owns 7,232 shares of the business services provider’s stock worth $1,783,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RSG. Robert W. Baird set a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. Citigroup decreased their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Republic Services in a research note on Wednesday. Stifel Nicolaus cut their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $250.91.

Republic Services Stock Up 0.4%

Shares of Republic Services stock opened at $219.21 on Friday. The firm has a market cap of $67.86 billion, a PE ratio of 32.43, a P/E/G ratio of 3.40 and a beta of 0.57. The business’s 50 day simple moving average is $218.89 and its 200 day simple moving average is $233.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75.

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, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s payout ratio 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.