The Manufacturers Life Insurance Company Sells 3,418 Shares of Republic Services, Inc. (NYSE:RSG)

The Manufacturers Life Insurance Company decreased its position in shares of Republic Services, Inc. (NYSE:RSGFree Report) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,624 shares of the business services provider’s stock after selling 3,418 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Republic Services were worth $23,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Scotia Capital Inc. raised its holdings in Republic Services by 2.4% during the fourth quarter. Scotia Capital Inc. now owns 2,708 shares of the business services provider’s stock worth $447,000 after buying an additional 64 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Republic Services by 0.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after purchasing an additional 66 shares in the last quarter. Parcion Private Wealth LLC boosted its position in shares of Republic Services by 0.3% during the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock valued at $3,926,000 after buying an additional 68 shares during the last quarter. Stokes Family Office LLC raised its position in Republic Services by 2.2% in the 3rd quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock valued at $457,000 after buying an additional 70 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in Republic Services by 4.5% during the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after acquiring an additional 70 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 target price for the company. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price on the stock. Jefferies Financial Group increased their price target on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Oppenheimer boosted their price objective on Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their target price on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.14.

Get Our Latest Report on Republic Services

Insider Activity

In other news, Director Katharine Weymouth bought 540 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Republic Services news, Director Katharine Weymouth bought 540 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Stock Down 0.1 %

RSG opened at $186.95 on Friday. The company has a 50 day moving average of $187.95 and a 200 day moving average of $178.11. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $196.76. The company has a market cap of $58.88 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 3.14 and a beta of 0.68.

Republic Services (NYSE:RSGGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is 37.54%.

Republic Services Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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