King Luther Capital Management Corp Sells 1,305 Shares of Republic Services, Inc. (NYSE:RSG)

King Luther Capital Management Corp decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,245 shares of the business services provider’s stock after selling 1,305 shares during the period. King Luther Capital Management Corp’s holdings in Republic Services were worth $10,292,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RSG. International Assets Investment Management LLC raised its stake in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares during the period. Earnest Partners LLC lifted its stake in Republic Services by 16.9% in the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after purchasing an additional 129,619 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Republic Services by 44.3% in the first quarter. Canada Pension Plan Investment Board now owns 396,681 shares of the business services provider’s stock worth $75,941,000 after purchasing an additional 121,781 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Republic Services by 3,827.6% during the second quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock valued at $20,647,000 after buying an additional 103,536 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSG. William Blair initiated coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Robert W. Baird increased their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley upped their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Stock Up 0.7 %

Shares of RSG opened at $214.06 on Friday. The firm has a fifty day moving average price of $204.34 and a 200-day moving average price of $198.65. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $67.03 billion, a P/E ratio of 34.25, a P/E/G ratio of 3.22 and a beta of 0.70. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $216.18.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 EPS. Equities research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

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.