Allianz Asset Management GmbH trimmed its position in Republic Services, Inc. (NYSE:RSG) by 46.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,613 shares of the business services provider’s stock after selling 342,416 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.12% of Republic Services worth $29,254,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Piedmont Investment Advisors LLC bought a new position in Republic Services during the 2nd quarter valued at approximately $178,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Republic Services by 5.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 918,735 shares of the business services provider’s stock valued at $62,805,000 after buying an additional 45,165 shares in the last quarter. Cognios Capital LLC increased its position in Republic Services by 2.3% during the 2nd quarter. Cognios Capital LLC now owns 37,354 shares of the business services provider’s stock valued at $2,553,000 after buying an additional 843 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services during the 2nd quarter valued at approximately $2,319,000. Finally, First Trust Advisors LP increased its position in Republic Services by 31.5% during the 2nd quarter. First Trust Advisors LP now owns 769,036 shares of the business services provider’s stock valued at $52,571,000 after buying an additional 184,239 shares in the last quarter. Institutional investors own 60.02% of the company’s stock.
Shares of RSG opened at $77.35 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.95. Republic Services, Inc. has a 12 month low of $60.26 and a 12 month high of $78.08. The firm has a market cap of $25.10 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 annualized dividend and a yield of 1.94%. Republic Services’s dividend payout ratio is 61.73%.
In other Republic Services news, Director Jennifer M. Kirk bought 1,500 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were acquired at an average cost of $72.35 per share, for a total transaction of $108,525.00. Following the purchase, the director now owns 1,500 shares in the company, valued at approximately $108,525. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.
A number of research analysts recently weighed in on RSG shares. Bank of America lowered Republic Services from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a research report on Wednesday, October 24th. Stifel Nicolaus raised their price objective on Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a research report on Friday, October 26th. Finally, BMO Capital Markets cut their target price on Republic Services from $79.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $73.71.
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Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.
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