Republic Services, Inc. (NYSE:RSG) Shares Sold by State Street Corp

State Street Corp lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,391,409 shares of the business services provider's stock after selling 6,804 shares during the period. State Street Corp owned approximately 3.00% of Republic Services worth $1,886,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSG. FSA Wealth Management LLC purchased a new position in shares of Republic Services during the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC increased its position in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new position in shares of Republic Services in the third quarter worth $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services during the third quarter valued at $34,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Republic Services during the 2nd quarter worth about $36,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RSG shares. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an "outperform" rating for the company. Oppenheimer boosted their price target on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. BMO Capital Markets upgraded Republic Services from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $211.00 to $238.00 in a research report on Friday. Finally, Royal Bank of Canada lifted their price target on Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $217.88.

Republic Services Stock Up 0.6 %

NYSE RSG traded up $1.20 during trading hours on Friday, hitting $216.68. The company had a trading volume of 1,053,775 shares, compared to its average volume of 929,871. The firm's 50 day moving average is $207.56 and its 200 day moving average is $200.98. The company has a market capitalization of $67.85 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 3.29 and a beta of 0.71. Republic Services, Inc. has a fifty-two week low of $160.41 and a fifty-two week high of $220.58. 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 (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company's revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the 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 transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.