The Manufacturers Life Insurance Company Sells 18,191 Shares of Republic Services, Inc. (NYSE:RSG)

The Manufacturers Life Insurance Company decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,130 shares of the business services provider's stock after selling 18,191 shares during the period. The Manufacturers Life Insurance Company's holdings in Republic Services were worth $25,332,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RSG. Bank of Montreal Can lifted its holdings in Republic Services by 3.0% during the 3rd quarter. Bank of Montreal Can now owns 391,857 shares of the business services provider's stock valued at $78,128,000 after purchasing an additional 11,569 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Republic Services during the 3rd quarter worth about $34,000. DRW Securities LLC acquired a new position in Republic Services in the 3rd quarter valued at about $399,000. Prosperity Financial Group Inc. raised its holdings in Republic Services by 8.1% in the 3rd quarter. Prosperity Financial Group Inc. now owns 3,538 shares of the business services provider's stock valued at $711,000 after acquiring an additional 264 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Republic Services by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 26,310 shares of the business services provider's stock worth $5,284,000 after acquiring an additional 2,786 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares of the company's stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

RSG has been the topic of a number of recent research reports. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They set a "sector perform" rating and a $224.00 target price on the stock. CIBC increased their price objective on Republic Services from $208.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. Oppenheimer lifted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.

Republic Services Price Performance

NYSE RSG traded up $0.02 during trading on Friday, hitting $218.30. 631,459 shares of the company's stock were exchanged, compared to its average volume of 960,102. The company has a market cap of $68.36 billion, a PE ratio of 34.93, a P/E/G ratio of 3.34 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a fifty-two week low of $159.38 and a fifty-two week high of $220.58. The stock's 50 day moving average price is $206.22 and its two-hundred day moving average price is $200.08.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. Research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services's payout ratio is 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.