Renaissance Technologies LLC Has $67.06 Million Stake in Republic Services, Inc. (NYSE:RSG)

Renaissance Technologies LLC lowered its position in Republic Services, Inc. (NYSE:RSG) by 3.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 345,066 shares of the business services provider’s stock after selling 10,500 shares during the period. Renaissance Technologies LLC owned 0.11% of Republic Services worth $67,060,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. YHB Investment Advisors Inc. acquired a new position in shares of Republic Services in the 1st quarter worth approximately $29,000. EntryPoint Capital LLC acquired a new position in shares of Republic Services in the 1st quarter worth approximately $29,000. Jones Financial Companies Lllp lifted its position in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares during the period. Indiana Trust & Investment Management CO acquired a new position in shares of Republic Services during the 2nd quarter valued at $45,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Republic Services during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price on the stock. Robert W. Baird boosted their target price 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. Raymond James dropped their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. TD Cowen boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, Oppenheimer dropped their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $211.00.

Republic Services Stock Performance

NYSE RSG opened at $205.41 on Tuesday. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $64.51 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 3.29 and a beta of 0.70. The company has a fifty day moving average price of $202.04 and a 200-day moving average price of $193.39.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, equities research analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.13%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio is presently 37.54%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

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.