M&G Plc Sells 11,124 Shares of Republic Services, Inc. (NYSE:RSG)

M&G Plc decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 639,675 shares of the business services provider’s stock after selling 11,124 shares during the period. M&G Plc’s holdings in Republic Services were worth $128,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RSG. Umpqua Bank acquired a new position in Republic Services in the 3rd quarter worth about $352,000. Harvest Portfolios Group Inc. increased its stake in shares of Republic Services by 18.5% in the third quarter. Harvest Portfolios Group Inc. now owns 5,388 shares of the business services provider’s stock valued at $1,082,000 after buying an additional 840 shares during the period. Catalina Capital Group LLC boosted its position in Republic Services by 4.1% during the 3rd quarter. Catalina Capital Group LLC now owns 4,484 shares of the business services provider’s stock worth $901,000 after buying an additional 176 shares during the period. Marks Group Wealth Management Inc grew its holdings in Republic Services by 1.6% during the 3rd quarter. Marks Group Wealth Management Inc now owns 79,314 shares of the business services provider’s stock worth $15,929,000 after acquiring an additional 1,246 shares during the last quarter. Finally, Fiduciary Family Office LLC increased its position in Republic Services by 169.5% in the 3rd quarter. Fiduciary Family Office LLC now owns 4,344 shares of the business services provider’s stock valued at $872,000 after acquiring an additional 2,732 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 2.4 %

Republic Services stock opened at $207.07 on Thursday. Republic Services, Inc. has a 1-year low of $154.49 and a 1-year high of $208.69. The firm has a market capitalization of $64.84 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 3.07 and a beta of 0.70. The firm’s fifty day moving average price is $203.21 and its two-hundred day moving average price is $197.10. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the firm earned $1.54 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is currently 37.12%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s 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 transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RSG has been the topic of several analyst reports. Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Royal Bank of Canada raised their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Raymond James decreased their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen increased 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. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

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.