Tandem Investment Advisors Inc. Sells 63,708 Shares of Republic Services, Inc. (NYSE:RSG)

Tandem Investment Advisors Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 18.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,147 shares of the business services provider's stock after selling 63,708 shares during the quarter. Republic Services comprises about 2.1% of Tandem Investment Advisors Inc.'s investment portfolio, making the stock its 24th biggest position. Tandem Investment Advisors Inc. owned about 0.09% of Republic Services worth $53,278,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider's stock worth $3,494,714,000 after purchasing an additional 101,518 shares during the last quarter. Capital World Investors raised its position in shares of Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the period. Norges Bank purchased a new position in shares of Republic Services in the 4th quarter worth $358,837,000. TD Asset Management Inc raised its position in shares of Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider's stock worth $329,680,000 after buying an additional 1,393,918 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider's stock worth $286,868,000 after buying an additional 3,809 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several research reports. Robert W. Baird increased their target price on Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price objective on Republic Services from $209.00 to $211.00 and gave the company a "market perform" rating in a research report on Thursday, July 25th. CIBC lifted their target price on Republic Services from $196.00 to $208.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a research report on Thursday, May 23rd. They set a "hold" rating and a $203.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on Republic Services from $201.00 to $211.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Republic Services has a consensus rating of "Hold" and a consensus price target of $211.00.

Republic Services Price Performance

NYSE:RSG traded up $2.27 during midday trading on Friday, hitting $208.21. 885,446 shares of the stock were exchanged, compared to its average volume of 936,585. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69. The company has a market capitalization of $65.57 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 3.34 and a beta of 0.69. The business has a 50-day moving average price of $199.49 and a two-hundred day moving average price of $191.51. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.03 billion. Sell-side analysts predict that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.11%. This is a boost from Republic Services's previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services's payout ratio is presently 40.70%.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company's stock, valued at approximately $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Katharine Weymouth acquired 540 shares of the business's stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company's stock, valued at $100,040.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomago Collins sold 3,200 shares of the company'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 approximately $3,549,832.86. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

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.