Brighton Jones LLC Sells 3,055 Shares of Republic Services, Inc. $RSG

Brighton Jones LLC cut its position in Republic Services, Inc. (NYSE:RSG) by 17.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,755 shares of the business services provider’s stock after selling 3,055 shares during the quarter. Brighton Jones LLC’s holdings in Republic Services were worth $3,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Candriam S.C.A. boosted its stake in Republic Services by 5.4% during the 3rd quarter. Candriam S.C.A. now owns 4,266 shares of the business services provider’s stock valued at $899,000 after purchasing an additional 220 shares during the last quarter. Ethic Inc. increased its holdings in shares of Republic Services by 4.1% in the 3rd quarter. Ethic Inc. now owns 16,891 shares of the business services provider’s stock worth $3,545,000 after purchasing an additional 658 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of Republic Services in the 3rd quarter worth $295,000. Pictet Asset Management Holding SA raised its stake in shares of Republic Services by 14.0% in the third quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider’s stock worth $590,761,000 after purchasing an additional 345,719 shares during the last quarter. Finally, Formidable Asset Management LLC purchased a new position in shares of Republic Services in the third quarter worth $258,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $246.75 on Monday. The firm has a fifty day simple moving average of $224.95 and a two-hundred day simple moving average of $217.69. The firm has a market cap of $75.17 billion, a PE ratio of 34.13, a P/E/G ratio of 4.10 and a beta of 0.32. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.14. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $254.39.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the business posted $1.90 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, January 4th. Republic Services’s dividend payout ratio (DPR) is presently 37.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canadian Imperial Bank of Commerce dropped their price objective on Republic Services from $249.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. JPMorgan Chase & Co. lifted their price objective on Republic Services from $245.00 to $265.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Barclays boosted their target price on Republic Services from $240.00 to $254.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. UBS Group upped their target price on shares of Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Republic Services in a report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $249.32.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was acquired at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the purchase, the insider directly owned 116,166,330 shares in the company, valued at $25,729,680,431.70. This trade represents a 0.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 5,992,798 shares of company stock valued at $1,324,092,981 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Republic Services Profile

Republic Services, Inc provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials.

The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

Headquartered in Phoenix, Arizona, Republic Services is led by Chief Executive Officer Jon Vander Ark.