Republic Services, Inc. (RSG) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 151.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,250 shares of the business services provider’s stock after buying an additional 51,325 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Republic Services were worth $6,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Homrich & Berg lifted its holdings in shares of Republic Services by 19.6% in the third quarter. Homrich & Berg now owns 12,683 shares of the business services provider’s stock valued at $922,000 after purchasing an additional 2,076 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Republic Services by 18.2% during the third quarter. Brown Advisory Inc. now owns 14,549 shares of the business services provider’s stock valued at $1,058,000 after buying an additional 2,236 shares during the period. Aviva PLC lifted its stake in shares of Republic Services by 61.8% during the third quarter. Aviva PLC now owns 182,186 shares of the business services provider’s stock valued at $13,238,000 after buying an additional 69,598 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Republic Services by 2.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 60,432 shares of the business services provider’s stock valued at $4,391,000 after buying an additional 1,620 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Republic Services by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,088,244 shares of the business services provider’s stock valued at $297,049,000 after buying an additional 185,362 shares during the period. 60.19% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Jennifer M. Kirk purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average price of $72.35 per share, with a total value of $108,525.00. Following the completion of the transaction, the director now owns 1,500 shares of the company’s stock, valued at approximately $108,525. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Several brokerages recently issued reports on RSG. Bank of America upped their price objective on shares of Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, August 17th. BMO Capital Markets upped their price objective on shares of Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research note on Thursday, August 16th. Oppenheimer reissued a “hold” rating on shares of Republic Services in a research note on Friday, October 26th. Finally, 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 note on Monday, September 10th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.71.

Shares of RSG opened at $77.34 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.95. The company has a market cap of $25.10 billion, a P/E ratio of 31.83, a PEG ratio of 2.36 and a beta of 0.54. Republic Services, Inc. has a 1 year low of $60.26 and a 1 year high of $77.46.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, December 31st. Republic Services’s dividend payout ratio (DPR) is 61.73%.

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

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