Fenimore Asset Management Inc. Sells 235 Shares of Republic Services, Inc. (NYSE:RSG)

Fenimore Asset Management Inc. lessened its stake in Republic Services, Inc. (NYSE:RSG) by 0.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 157,979 shares of the business services provider’s stock after selling 235 shares during the quarter. Fenimore Asset Management Inc.’s holdings in Republic Services were worth $13,687,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IFM Investors Pty Ltd boosted its stake in shares of Republic Services by 13.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 16,863 shares of the business services provider’s stock valued at $1,461,000 after buying an additional 1,980 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Republic Services by 22.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 57,650 shares of the business services provider’s stock worth $4,995,000 after purchasing an additional 10,534 shares during the last quarter. OLD National Bancorp IN lifted its stake in Republic Services by 10.9% during the second quarter. OLD National Bancorp IN now owns 24,001 shares of the business services provider’s stock worth $2,079,000 after purchasing an additional 2,366 shares during the last quarter. Unigestion Holding SA lifted its stake in Republic Services by 8.8% during the second quarter. Unigestion Holding SA now owns 604,574 shares of the business services provider’s stock worth $52,381,000 after purchasing an additional 48,916 shares during the last quarter. Finally, 6 Meridian lifted its stake in Republic Services by 1.9% during the second quarter. 6 Meridian now owns 6,480 shares of the business services provider’s stock worth $561,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.73% of the company’s stock.

In related news, EVP Catharine D. Ellingsen sold 3,100 shares of the firm’s stock in a transaction that occurred 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 owns 14,307 shares of the company’s stock, valued at approximately $1,287,630. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

A number of equities research analysts have weighed in on RSG shares. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Bank of America reaffirmed a “neutral” rating and set a $85.00 price objective (up previously from $79.00) on shares of Republic Services in a report on Friday, April 26th. Raymond James set a $93.00 target price on Republic Services and gave the company an “outperform” rating in a report on Friday, July 26th. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Monday, April 29th. Finally, Royal Bank of Canada set a $91.00 price objective on Republic Services and gave the company a “hold” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $84.67.

RSG stock opened at $89.55 on Friday. Republic Services, Inc. has a 1 year low of $67.48 and a 1 year high of $90.60. The stock has a 50-day simple moving average of $88.04 and a 200-day simple moving average of $82.87. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $28.95 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.50.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm earned $0.73 EPS. Republic Services’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Republic Services, Inc. will post 3.24 EPS for the current year.

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 is an increase from Republic Services’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, September 30th. This represents a $1.62 annualized dividend and a dividend yield of 1.81%. Republic Services’s dividend payout ratio (DPR) is 48.54%.

About Republic Services

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.

Further Reading: Lock-Up Period Expiration

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

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