Natixis trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 55.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,061 shares of the business services provider’s stock after selling 118,733 shares during the period. Natixis’ holdings in Republic Services were worth $8,323,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Horizon Investments LLC increased its stake in shares of Republic Services by 7.4% during the first quarter. Horizon Investments LLC now owns 41,983 shares of the business services provider’s stock valued at $3,375,000 after acquiring an additional 2,875 shares during the period. Northern Trust Corp grew its holdings in shares of Republic Services by 1.8% during the first quarter. Northern Trust Corp now owns 3,003,904 shares of the business services provider’s stock worth $241,455,000 after purchasing an additional 51,715 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Republic Services by 17.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 609,170 shares of the business services provider’s stock worth $48,964,000 after purchasing an additional 88,445 shares in the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Republic Services by 7.5% during the first quarter. VisionPoint Advisory Group LLC now owns 28,586 shares of the business services provider’s stock worth $2,298,000 after purchasing an additional 2,002 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Republic Services by 260.2% in the second quarter. GSA Capital Partners LLP now owns 13,614 shares of the business services provider’s stock worth $1,180,000 after buying an additional 9,834 shares in the last quarter. Institutional investors and hedge funds own 59.64% of the company’s stock.
Shares of RSG stock traded up $0.72 during mid-day trading on Thursday, hitting $85.81. The stock had a trading volume of 534,151 shares, compared to its average volume of 1,145,610. Republic Services, Inc. has a 12-month low of $67.48 and a 12-month high of $90.61. The firm has a market capitalization of $27.54 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 2.99 and a beta of 0.50. The firm’s 50-day moving average is $88.89 and its two-hundred day moving average is $84.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Republic Services’s previous quarterly dividend of $0.38. Republic Services’s dividend payout ratio (DPR) is currently 48.54%.
RSG has been the subject of several research reports. Raymond James set a $93.00 target price on Republic Services and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. began coverage on Republic Services in a report on Wednesday, August 7th. They set a “neutral” rating and a $94.00 price objective for the company. Finally, Royal Bank of Canada set a $91.00 price objective on Republic Services and gave the company a “hold” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $84.67.
In other Republic Services news, CEO Donald W. Slager sold 95,126 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $90.00, for a total transaction of $8,561,340.00. Following the completion of the sale, the chief executive officer now owns 382,736 shares of the company’s stock, valued at $34,446,240. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $90.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at approximately $1,287,630. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,117 shares of company stock valued at $13,240,530. Insiders own 0.30% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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