Principal Financial Group Inc. Sells 3,224 Shares of Republic Services, Inc. (NYSE:RSG)

Principal Financial Group Inc. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 748,055 shares of the business services provider's stock after selling 3,224 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of Republic Services worth $150,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in Republic Services during the third quarter worth about $25,000. Wolff Wiese Magana LLC raised its stake in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Republic Services in the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in shares of Republic Services in the third quarter valued at $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Republic Services during the second quarter worth $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and lifted their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. BMO Capital Markets raised Republic Services from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. CIBC boosted their target price on Republic Services from $217.00 to $227.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. 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 for the company. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and an average target price of $220.06.

Republic Services Price Performance

Republic Services stock traded down $0.22 during mid-day trading on Friday, reaching $203.73. 2,366,684 shares of the company were exchanged, compared to its average volume of 1,119,763. The company has a fifty day simple moving average of $208.77 and a 200-day simple moving average of $202.46. The firm has a market cap of $63.80 billion, a PE ratio of 32.60, a PEG ratio of 3.30 and a beta of 0.71. 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 12 month low of $161.19 and a 12 month high of $220.58.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. Republic Services's revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.14%. Republic Services's dividend payout ratio is currently 37.12%.

Republic Services Company 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.