Wedge Capital Management L L P NC Cuts Position in Republic Services, Inc. (NYSE:RSG)

Wedge Capital Management L L P NC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,026 shares of the business services provider’s stock after selling 593 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Republic Services were worth $9,461,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RSG. Simmons Bank grew its position in Republic Services by 2.8% during the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after buying an additional 51 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after acquiring an additional 52 shares during the period. Venturi Wealth Management LLC increased its stake in Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 54 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in Republic Services by 3.8% during the third quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock worth $310,000 after purchasing an additional 55 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Republic Services by 11.6% in the third quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.9 %

RSG stock opened at $213.85 on Friday. Republic Services, Inc. has a 52 week low of $165.99 and a 52 week high of $220.58. The company has a market cap of $66.97 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.98 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $209.27 and a 200-day simple moving average of $204.44.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $221.12.

Republic Services Profile

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.