The Manufacturers Life Insurance Company Has $25.33 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

The Manufacturers Life Insurance Company lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 12.6% in the third quarter, Holdings Channel reports. The institutional investor owned 126,130 shares of the business services provider’s stock after selling 18,191 shares during the period. The Manufacturers Life Insurance Company’s holdings in Republic Services were worth $25,332,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares during the period. Webster Bank N. A. acquired a new stake in shares of Republic Services in the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in shares of Republic Services in the third quarter valued at approximately $34,000. Itau Unibanco Holding S.A. bought a new position in Republic Services during the 2nd quarter worth $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in Republic Services in the 3rd quarter valued at $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Up 0.0 %

Shares of NYSE RSG opened at $218.30 on Friday. The firm has a 50 day moving average price of $206.22 and a two-hundred day moving average price of $199.98. The stock has a market cap of $68.36 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. Republic Services, Inc. has a 52-week low of $159.38 and a 52-week high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business posted $1.54 earnings per share. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RSG shares. CIBC raised their price target on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Morgan Stanley increased their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer upped their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, TD Cowen lifted their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.71.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.