Republic Services, Inc. (NYSE:RSG) Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its holdings in Republic Services, Inc. (NYSE:RSG) by 17.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,505 shares of the business services provider’s stock after selling 961 shares during the quarter. Park Place Capital Corp’s holdings in Republic Services were worth $876,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Capital World Investors grew its holdings in shares of Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares in the last quarter. Norges Bank acquired a new position in shares of Republic Services in the fourth quarter valued at approximately $358,837,000. TD Asset Management Inc lifted its stake in shares of Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after buying an additional 1,393,918 shares during the period. Finally, Earnest Partners LLC boosted its position in Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after acquiring an additional 182,645 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, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katharine Weymouth bought 540 shares of the stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Trading Up 1.2 %

Shares of RSG stock traded up $2.46 during mid-day trading on Friday, reaching $200.00. The company’s stock had a trading volume of 1,634,452 shares, compared to its average volume of 1,325,030. The company’s 50 day simple moving average is $193.12 and its 200-day simple moving average is $187.21. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $206.54. The firm has a market capitalization of $62.81 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 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 1.16%. The ex-dividend date is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 37.54%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RSG. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research note on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target on the stock. Robert W. Baird raised their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price target on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group increased their price objective on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.69.

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.