Bank of Nova Scotia Trims Position in Republic Services, Inc. $RSG

Bank of Nova Scotia decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 21.2% in the second quarter, HoldingsChannel.com reports. The fund owned 203,856 shares of the business services provider’s stock after selling 54,735 shares during the period. Bank of Nova Scotia’s holdings in Republic Services were worth $50,271,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RSG. Ignite Planners LLC boosted its stake in shares of Republic Services by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 43 shares in the last quarter. Gries Financial LLC lifted its holdings in Republic Services by 3.8% in the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock worth $308,000 after buying an additional 46 shares during the period. TD Private Client Wealth LLC boosted its position in Republic Services by 17.8% during the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 46 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Republic Services by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 7,232 shares of the business services provider’s stock worth $1,783,000 after acquiring an additional 47 shares during the period. Finally, McGlone Suttner Wealth Management Inc. lifted its stake in shares of Republic Services by 2.1% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock valued at $589,000 after purchasing an additional 48 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of RSG opened at $211.37 on Tuesday. Republic Services, Inc. has a 12 month low of $199.43 and a 12 month high of $258.75. The business’s fifty day simple moving average is $216.30 and its two-hundred day simple moving average is $231.32. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market cap of $65.43 billion, a price-to-earnings ratio of 31.45, a P/E/G ratio of 3.47 and a beta of 0.54.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm posted $1.81 earnings per share. Republic Services’s revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group decreased their price objective on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Oppenheimer set a $256.00 price target on shares of Republic Services in a research note on Friday, October 31st. Jefferies Financial Group set a $248.00 price objective on shares of Republic Services and gave the stock a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Republic Services in a research note on Monday, December 1st. Finally, Robert W. Baird set a $240.00 price target on Republic Services in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $250.45.

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.