Axa Decreases Holdings in Republic Services, Inc. (RSG)

AXA cut its stake in Republic Services, Inc. (NYSE:RSG) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,640 shares of the business services provider’s stock after selling 5,700 shares during the quarter. AXA owned about 0.07% of Republic Services worth $15,897,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its position in Republic Services by 39.4% in the third quarter. GSA Capital Partners LLP now owns 23,340 shares of the business services provider’s stock valued at $1,542,000 after purchasing an additional 6,599 shares during the period. Gyroscope Capital Management Group LLC purchased a new position in Republic Services in the third quarter valued at about $322,000. IFM Investors Pty Ltd purchased a new position in Republic Services in the third quarter valued at about $467,000. California Public Employees Retirement System raised its position in Republic Services by 2.1% in the third quarter. California Public Employees Retirement System now owns 920,619 shares of the business services provider’s stock valued at $60,816,000 after purchasing an additional 19,306 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Republic Services by 20.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,821 shares of the business services provider’s stock worth $517,000 after acquiring an additional 1,339 shares during the last quarter. 59.90% of the stock is currently owned by institutional investors.

Republic Services, Inc. (RSG) traded up $0.73 during trading hours on Thursday, reaching $68.26. The company had a trading volume of 744,238 shares, compared to its average volume of 1,365,912. The firm has a market capitalization of $22,700.00, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.12 and a beta of 0.61. Republic Services, Inc. has a fifty-two week low of $56.65 and a fifty-two week high of $69.12. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. Republic Services had a return on equity of 10.58% and a net margin of 8.15%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. analysts expect that Republic Services, Inc. will post 2.4 earnings per share for the current fiscal year.

Republic Services declared that its Board of Directors has approved a share buyback plan on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.345 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.02%. Republic Services’s dividend payout ratio (DPR) is 58.47%.

In related news, CEO Donald W. Slager sold 98,132 shares of Republic Services stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $64.19, for a total value of $6,299,093.08. Following the completion of the transaction, the chief executive officer now directly owns 322,541 shares in the company, valued at $20,703,906.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 2,000 shares of Republic Services stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $67.88, for a total value of $135,760.00. Following the completion of the transaction, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at $454,524.48. The disclosure for this sale can be found here. Insiders sold 132,553 shares of company stock valued at $8,509,797 over the last quarter. Insiders own 0.40% of the company’s stock.

A number of brokerages have recently issued reports on RSG. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. Zacks Investment Research lowered Republic Services from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. BMO Capital Markets dropped their target price on Republic Services from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Credit Suisse Group dropped their target price on Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. Finally, Bank of America dropped their target price on Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Republic Services has a consensus rating of “Hold” and a consensus price target of $68.14.

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About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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