Summit Global Investments Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Summit Global Investments grew its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 652.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,795 shares of the business services provider's stock after buying an additional 14,563 shares during the period. Summit Global Investments' holdings in Republic Services were worth $3,373,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted 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 acquiring an additional 109 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Republic Services in the first quarter valued at approximately $29,000. Webster Bank N. A. purchased a new stake in shares of Republic Services in the 3rd quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services during the second quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO acquired a new position in shares of Republic Services in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the firm's stock in a transaction on Friday, August 16th. The stock was 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on RSG shares. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 target price for the company. StockNews.com lowered shares of Republic Services from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 1st. TD Cowen upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a "hold" rating in a report on Monday, August 5th. Raymond James reduced 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 note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and an average price target of $215.71.

Republic Services Stock Up 1.9 %

RSG traded up $4.05 during midday trading on Friday, hitting $212.13. 617,998 shares of the company's stock traded hands, compared to its average volume of 1,124,402. The company has a market cap of $66.43 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 3.17 and a beta of 0.70. The stock's fifty day simple moving average is $203.21 and its 200-day simple moving average is $197.10. Republic Services, Inc. has a one year low of $154.92 and a one year high of $213.25. 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 issued its 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. 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 for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned $1.54 EPS. The firm's revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued 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 1.09%. Republic Services's payout ratio is presently 37.12%.

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.