Highland Capital Management LLC Acquires Shares of 17,565 Republic Services, Inc. (RSG)

Highland Capital Management LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,565 shares of the business services provider’s stock, valued at approximately $1,276,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RSG. The Manufacturers Life Insurance Company lifted its stake in shares of Republic Services by 12.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 244,766 shares of the business services provider’s stock valued at $16,211,000 after purchasing an additional 26,259 shares during the period. Natixis increased its position in shares of Republic Services by 111.9% in the 1st quarter. Natixis now owns 40,655 shares of the business services provider’s stock valued at $2,693,000 after buying an additional 21,466 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Republic Services by 25.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,494 shares of the business services provider’s stock valued at $496,000 after buying an additional 1,523 shares in the last quarter. LPL Financial LLC increased its position in shares of Republic Services by 10.2% in the 1st quarter. LPL Financial LLC now owns 18,523 shares of the business services provider’s stock valued at $1,227,000 after buying an additional 1,717 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Republic Services by 9.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 286,692 shares of the business services provider’s stock valued at $18,988,000 after buying an additional 24,610 shares in the last quarter. 60.89% of the stock is owned by institutional investors.

RSG stock traded up $0.71 during trading hours on Friday, reaching $74.74. 1,061,498 shares of the stock were exchanged, compared to its average volume of 1,510,898. The stock has a market cap of $23.81 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.23 and a beta of 0.54. 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 $75.82.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Republic Services had a return on equity of 12.11% and a net margin of 13.90%. On average, analysts forecast that Republic Services, Inc. will post 3.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 annualized dividend and a yield of 2.01%. Republic Services’s dividend payout ratio (DPR) is currently 61.73%.

A number of analysts recently commented on the stock. BMO Capital Markets lowered their price objective on shares of Republic Services from $79.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Oppenheimer restated a “hold” rating on shares of Republic Services in a research report on Friday, October 26th. Bank of America cut shares of 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 upped their price objective on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Finally, ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Republic Services currently has an average rating of “Hold” and an average price target of $73.71.

In other news, Director Jennifer M. Kirk bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was 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 of the company’s stock, valued at approximately $108,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald W. Slager sold 225,734 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $73.02, for a total transaction of $16,483,096.68. Following the sale, the insider now owns 378,023 shares of the company’s stock, valued at $27,603,239.46. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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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.

Read More: Preferred Stock

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

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