State of Wisconsin Investment Board Grows Holdings in Republic Services, Inc. (RSG)

State of Wisconsin Investment Board boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 217,965 shares of the business services provider’s stock after buying an additional 12,276 shares during the quarter. State of Wisconsin Investment Board owned 0.06% of Republic Services worth $14,399,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Republic Services by 0.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,821 shares of the business services provider’s stock worth $307,000 after buying an additional 16 shares in the last quarter. MUFG Americas Holdings Corp lifted its holdings in Republic Services by 0.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 4,971 shares of the business services provider’s stock worth $317,000 after buying an additional 20 shares in the last quarter. Blue Chip Partners Inc. lifted its holdings in Republic Services by 0.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 4,763 shares of the business services provider’s stock worth $304,000 after buying an additional 25 shares in the last quarter. Pinnacle Financial Partners Inc. lifted its holdings in Republic Services by 1.9% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 3,293 shares of the business services provider’s stock worth $210,000 after buying an additional 60 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Republic Services by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock worth $342,000 after buying an additional 78 shares in the last quarter. Institutional investors own 60.98% of the company’s stock.

In related news, insider Donald W. Slager sold 22,608 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.05, for a total value of $1,493,258.40. Following the transaction, the insider now directly owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the transaction, the executive vice president now directly owns 428 shares in the company, valued at $28,462. The disclosure for this sale can be found here. Insiders sold a total of 43,187 shares of company stock worth $2,854,922 over the last ninety days. Insiders own 0.40% of the company’s stock.

Shares of Republic Services, Inc. (NYSE:RSG) opened at $63.91 on Tuesday. Republic Services, Inc. has a 52-week low of $53.30 and a 52-week high of $67.18. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.54 and a quick ratio of 0.51. The company has a market cap of $21,206.55, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 3.12 and a beta of 0.61.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.58%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. equities research analysts anticipate that Republic Services, Inc. will post 2.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is 58.47%.

Republic Services declared that its board has approved a share buyback plan on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities research analysts have issued reports on the stock. BMO Capital Markets reduced their target price on shares of Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Credit Suisse Group reduced their target price on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 6th. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Finally, BidaskClub downgraded shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Republic Services currently has an average rating of “Hold” and an average price target of $67.71.

Republic Services Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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

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