Republic Services, Inc. $RSG Position Cut by Villere ST Denis J & Co. LLC

Key Points

• Villere ST Denis J & Co. cut its Republic Services stake by 5.7% in the third quarter, selling 4,078 shares and ending the period with 67,746 shares valued at about $14.2 million. Institutional investors collectively own 57.73% of the company.
• Republic Services beat quarterly earnings and revenue estimates, reporting EPS of $1.94 and revenue of $4.56 billion; revenue rose 8.2% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $249.32.
• The company declared a quarterly dividend of $0.67 per share, equivalent to $2.68 annually and a 1.1% yield.

Villere ST Denis J & Co. LLC lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,746 shares of the business services provider's stock after selling 4,078 shares during the quarter. Villere ST Denis J & Co. LLC's holdings in Republic Services were worth $14,218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RSG. Bell Investment Advisors Inc acquired a new position in Republic Services during the second quarter worth about $25,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services during the 3rd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Republic Services during the 2nd quarter valued at approximately $27,000. Compass Financial Management LLC purchased a new stake in shares of Republic Services during the 2nd quarter worth approximately $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Republic Services by 47.3% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider's stock worth $35,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RSG shares. Robert W. Baird upped their price target on Republic Services from $242.00 to $245.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. Barclays lifted their price objective on Republic Services from $240.00 to $254.00 and gave the stock an "equal weight" rating in a report on Monday, November 2nd. Canadian Imperial Bank of Commerce decreased their target price 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. Raymond James Financial set a $235.00 target price on Republic Services in a report on Friday, October 9th. Finally, UBS Group raised their price target on Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $249.32.

Republic Services Stock Down 0.1%

RSG stock opened at $246.65 on Tuesday. The company's 50 day simple moving average is $225.44 and its 200-day simple moving average is $217.86. The firm has a market capitalization of $75.14 billion, a PE ratio of 34.12, a P/E/G ratio of 4.08 and a beta of 0.32. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $254.39. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The business had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same period last year, the company posted $1.90 EPS. The company's revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 409,500 shares of Republic Services stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the completion of the transaction, the insider directly owned 116,166,330 shares of the company's stock, valued at $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired 5,752,798 shares of company stock valued at $1,272,176,181 over the last ninety days. Insiders own 0.12% of the company's stock.

About Republic Services

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.

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