Traders Sell Republic Services, Inc. (RSG) on Strength (RSG)

Investors sold shares of Republic Services, Inc. (NYSE:RSG) on strength during trading hours on Monday. $17.10 million flowed into the stock on the tick-up and $34.52 million flowed out of the stock on the tick-down, for a money net flow of $17.42 million out of the stock. Of all companies tracked, Republic Services had the 22nd highest net out-flow for the day. Republic Services traded up $0.12 for the day and closed at $65.50

Several brokerages have recently issued reports on RSG. Zacks Investment Research downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. BMO Capital Markets reiterated a “buy” rating and issued a $72.00 target price on shares of Republic Services in a research note on Friday, October 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. Finally, Barclays PLC reiterated a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.25.

The stock has a 50-day moving average of $65.09 and a 200 day moving average of $64.24. The stock has a market cap of $22.06 billion, a PE ratio of 33.62 and a beta of 0.60.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. Republic Services’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. Analysts forecast that Republic Services, Inc. will post $2.38 EPS for the current year.

In other Republic Services news, insider Donald W. Slager sold 22,608 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the sale, the insider now owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the sale, the executive vice president now directly owns 8,007 shares in the company, valued at approximately $528,622.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,187 shares of company stock worth $2,854,922. 0.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Republic Services by 6.4% during the 2nd quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock worth $1,292,589,000 after purchasing an additional 1,223,613 shares during the last quarter. Vanguard Group Inc. grew its position in Republic Services by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock worth $1,224,571,000 after purchasing an additional 418,797 shares during the last quarter. JPMorgan Chase & Co. grew its position in Republic Services by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,809,989 shares of the business services provider’s stock worth $434,002,000 after purchasing an additional 388,147 shares during the last quarter. Wells Fargo & Company MN grew its position in Republic Services by 8.3% during the 2nd quarter. Wells Fargo & Company MN now owns 5,087,694 shares of the business services provider’s stock worth $324,239,000 after purchasing an additional 391,482 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Republic Services by 13,584.4% during the 2nd quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock worth $238,663,000 after purchasing an additional 3,717,509 shares during the last quarter. 60.65% of the stock is currently owned by institutional investors.

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About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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