Republic Services, Inc. (RSG) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,822,471 shares of the business services provider’s stock after selling 72,123 shares during the quarter. Republic Services comprises about 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 17th largest position. Wedge Capital Management L L P NC owned 0.54% of Republic Services worth $120,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Syntal Capital Partners LLC increased its stake in shares of Republic Services by 14.5% during the 3rd quarter. Syntal Capital Partners LLC now owns 10,374 shares of the business services provider’s stock valued at $688,000 after acquiring an additional 1,314 shares during the last quarter. Andra AP fonden increased its stake in shares of Republic Services by 4.8% during the 3rd quarter. Andra AP fonden now owns 396,326 shares of the business services provider’s stock valued at $26,181,000 after acquiring an additional 18,326 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of Republic Services by 91.0% during the 3rd quarter. Edgestream Partners L.P. now owns 13,606 shares of the business services provider’s stock valued at $899,000 after acquiring an additional 6,484 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Republic Services by 13.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 500,100 shares of the business services provider’s stock valued at $33,037,000 after acquiring an additional 59,200 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Republic Services by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,074,610 shares of the business services provider’s stock valued at $137,048,000 after acquiring an additional 138,553 shares during the last quarter. 60.65% of the stock is owned by institutional investors.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Republic Services had a return on equity of 10.57% and a net margin of 8.15%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the business earned $0.62 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.13%. Republic Services’s payout ratio is 58.47%.

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

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Friday. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price objective on shares of Republic Services in a research note on Friday, October 13th. Bank of America Corporation dropped their price objective on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Stifel Nicolaus downgraded shares of Republic Services from a “buy” rating to a “hold” rating and dropped their target price for the stock from $76.00 to $70.00 in a research report on Wednesday, October 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.29.

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Republic Services Profile

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.

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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