Stock Traders Purchase High Volume of Put Options on Republic Services (RSG)

Republic Services, Inc. (NYSE:RSG) was the recipient of unusually large options trading on Monday. Stock traders bought 1,252 put options on the company. This represents an increase of approximately 1,987% compared to the typical daily volume of 60 put options.

In other Republic Services news, CAO Brian A. Goebel sold 1,290 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $68.44, for a total transaction of $88,287.60. Following the transaction, the chief accounting officer now owns 6,696 shares in the company, valued at $458,274.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Donald W. Slager sold 98,132 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total value of $6,299,093.08. Following the transaction, the chief executive officer now owns 322,541 shares in the company, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. Insiders sold 104,642 shares of company stock worth $6,741,314 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its position in shares of Republic Services by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 78 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Republic Services by 2.6% in the second quarter. Thrivent Financial For Lutherans now owns 8,700 shares of the business services provider’s stock valued at $554,000 after acquiring an additional 220 shares during the period. Advisory Services Network LLC boosted its position in shares of Republic Services by 6.3% in the second quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 223 shares during the period. Advisor Partners LLC boosted its position in shares of Republic Services by 10.2% in the fourth quarter. Advisor Partners LLC now owns 8,235 shares of the business services provider’s stock valued at $562,000 after acquiring an additional 760 shares during the period. Finally, Raymond James Trust N.A. lifted its position in Republic Services by 18.7% in the fourth quarter. Raymond James Trust N.A. now owns 5,336 shares of the business services provider’s stock worth $361,000 after purchasing an additional 842 shares during the period. 59.31% of the stock is owned by institutional investors.

Several brokerages have commented on RSG. Credit Suisse Group lowered their price target on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday. BMO Capital Markets lowered their price target on Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a report on Wednesday, February 7th. Bank of America increased their price target on Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $73.00 in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.57.

Republic Services (NYSE RSG) traded up $1.24 on Wednesday, hitting $64.52. The stock had a trading volume of 2,129,097 shares, compared to its average volume of 1,540,655. Republic Services has a 12 month low of $58.06 and a 12 month high of $69.40. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $20,740.59, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Republic Services had a return on equity of 10.61% and a net margin of 12.73%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business earned $0.57 earnings per share. Republic Services’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities research analysts anticipate that Republic Services will post 3.08 EPS for the current fiscal year.

Republic Services announced that its board has authorized a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a $0.345 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.14%. Republic Services’s dividend payout ratio is 36.41%.

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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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