Republic Services, Inc. $RSG Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 18.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,758 shares of the business services provider’s stock after selling 5,952 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Republic Services were worth $6,140,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RSG. Financial Consulate Inc. purchased a new position in shares of Republic Services during the 3rd quarter worth about $25,000. NewSquare Capital LLC increased its position in Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Republic Services during the second quarter worth approximately $33,000. Hilltop National Bank acquired a new position in shares of Republic Services in the 2nd quarter valued at $47,000. Finally, Tradewinds Capital Management LLC grew its stake in shares of Republic Services by 154.1% during the 2nd quarter. Tradewinds Capital Management LLC now owns 216 shares of the business services provider’s stock valued at $53,000 after buying an additional 131 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RSG shares. Wells Fargo & Company initiated coverage on Republic Services in a report on Thursday, November 13th. They issued an “overweight” rating and a $238.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Republic Services in a research note on Monday, December 29th. Bank of America dropped their target price on shares of Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. JPMorgan Chase & Co. reduced their price target on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Sanford C. Bernstein increased their price objective on shares of Republic Services from $205.00 to $220.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.82.

Insider Activity

In other news, Director Katharine Weymouth purchased 478 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the purchase, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Republic Services Stock Performance

Republic Services stock opened at $214.85 on Friday. Republic Services, Inc. has a 52 week low of $201.42 and a 52 week high of $258.75. 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 stock has a market cap of $66.51 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.55. The stock has a 50 day moving average of $213.45 and a 200-day moving average of $221.85.

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

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.