Prime Capital Investment Advisors LLC Sells 1,085 Shares of Republic Services, Inc. (NYSE:RSG)

Prime Capital Investment Advisors LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 14.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,271 shares of the business services provider’s stock after selling 1,085 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Republic Services were worth $1,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new position in Republic Services in the 1st quarter worth approximately $24,121,000. Motco acquired a new position in shares of Republic Services during the first quarter valued at $324,000. M&G Plc bought a new position in Republic Services in the first quarter valued at about $130,892,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in Republic Services in the first quarter worth about $225,000. Finally, Intech Investment Management LLC raised its holdings in Republic Services by 25.2% during the 1st quarter. Intech Investment Management LLC now owns 74,088 shares of the business services provider’s stock worth $14,183,000 after purchasing an additional 14,921 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 2.4 %

NYSE:RSG opened at $209.46 on Friday. The business has a 50 day moving average price of $203.66 and a two-hundred day moving average price of $197.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market cap of $65.59 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 3.25 and a beta of 0.70. Republic Services, Inc. has a twelve month low of $156.83 and a twelve month high of $216.18.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business posted $1.54 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared 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. This represents a $2.32 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. William Blair began coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Stifel Nicolaus boosted their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.