BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Republic Services, Inc. (NYSE:RSG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Republic Services, Inc. (NYSE:RSG) by 12.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,786 shares of the business services provider’s stock after selling 5,440 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Republic Services were worth $7,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Republic Services in the 3rd quarter valued at about $6,102,000. Lifeworks Advisors LLC boosted its holdings in Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after buying an additional 19,698 shares during the period. Assenagon Asset Management S.A. grew its stake in Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 746 shares in the last quarter. Quantbot Technologies LP bought a new stake in Republic Services during the 3rd quarter valued at $6,579,000. Finally, PGGM Investments boosted its holdings in shares of Republic Services by 264.3% in the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after acquiring an additional 6,415 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE:RSG opened at $218.30 on Monday. 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 stock has a market cap of $68.36 billion, a PE ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70. The company’s fifty day moving average is $206.22 and its 200 day moving average is $200.08. Republic Services, Inc. has a 52 week low of $159.38 and a 52 week high of $220.58.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Research analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current 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 issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

Wall Street Analyst Weigh In

Several brokerages have commented on RSG. Scotiabank began coverage on 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. Royal Bank of Canada boosted their price objective 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. TD Cowen increased their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. William Blair began coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Oppenheimer increased their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.71.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

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.