iA Global Asset Management Inc. Increases Holdings in Republic Services, Inc. (NYSE:RSG)

iA Global Asset Management Inc. increased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 85.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,418 shares of the business services provider's stock after buying an additional 4,792 shares during the quarter. iA Global Asset Management Inc.'s holdings in Republic Services were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RSG. Simmons Bank lifted its position in Republic Services by 2.8% in the third quarter. Simmons Bank now owns 1,895 shares of the business services provider's stock valued at $381,000 after purchasing an additional 51 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider's stock valued at $1,024,000 after purchasing an additional 52 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider's stock valued at $362,000 after purchasing an additional 53 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Republic Services by 16.5% in the third 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 during the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in Republic Services by 3.8% in the third quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider's stock valued at $310,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of NYSE:RSG traded down $4.32 during trading on Monday, hitting $212.36. 1,022,295 shares of the company's stock were exchanged, compared to its average volume of 1,115,527. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 52-week low of $160.65 and a 52-week high of $220.58. The business's 50-day simple moving average is $207.79 and its 200 day simple moving average is $201.26. The company has a market cap of $66.50 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 3.31 and a beta of 0.71.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 EPS. As a group, equities analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's payout ratio is 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research analyst reports. CIBC boosted their target price on Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. BMO Capital Markets raised Republic Services from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $211.00 to $238.00 in a research note on Friday. William Blair began coverage on Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating on the stock. Royal Bank of Canada increased their target price on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Republic Services in a report on Friday, October 4th. They set a "sector perform" rating and a $224.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $217.88.

Insider Activity

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

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.