AdvisorNet Financial Inc Increases Stake in Republic Services, Inc. (NYSE: RSG)


AdvisorNet Financial Inc. raised its position in Republic Services, Inc. (NYSE: RSGGet a rating) by 54.4% during the first quarter, Holdings Channel.com reports. The company held 2,899 shares of the business services provider after purchasing an additional 1,022 shares during the period. AdvisorNet Financial Inc’s holdings in Republic Services were worth $384,000 at the end of the last quarter.

A number of other large investors have also recently increased or reduced their stakes in RSG. Allspring Global Investments Holdings LLC bought a new position in Republic Services in Q4, valued at approximately $499,246,000. Norges Bank bought a new position in Republic Services in Q4, valued at around $277,394,000. BlackRock Inc. increased its stake in Republic Services by 2.3% in the fourth quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider valued at $2,880,704,000 after buying an additional 466,966 shares last quarter. Marshall Wace LLP bought a new position in Republic Services in Q4 worth approximately $55,983,000. Finally, Allianz Asset Management GmbH increased its stake in Republic Services by 197.2% in the 4th quarter. Allianz Asset Management GmbH now owns 547,248 shares of the business services provider valued at $76,313,000 after buying an additional 363,101 shares last quarter. Institutional investors hold 92.80% of the company’s shares.

Several research analysts have recently weighed in on the stock. Morgan Stanley cut its price target on Republic Services shares from $152.00 to $142.00 and set an “overweight” rating on the stock in a Wednesday, June 22 report. Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 report. JPMorgan Chase & Co. assumed coverage for Republic Services shares in a Tuesday, March 1, report. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 on the stock in a Thursday, June 16 report. Finally, Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and raised its price target for the company from $140.00 to $150.00 in a Friday report. May 13. Two analysts gave the stock a hold rating, six gave the stock a buy rating and two gave the company a strong buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $138.14.

Shares of NYSE: RSG opened at $127.91 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 1.07. Republic Services, Inc. has a 52-week low of $108.64 and a 52-week high of $145.98. The company has a 50-day moving average of $130.63 and a two-hundred-day moving average of $129.94. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 30.31, a growth price-to-earnings ratio of 2.64 and a beta of 0.75.

Services of the Republic (NYSE: RSGGet a rating) last released its quarterly results on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating analyst consensus estimates of $1.05 by $0.09. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company posted revenue of $2.97 billion in the quarter, versus a consensus estimate of $2.89 billion. In the same quarter last year, the company earned earnings per share of $0.93. The company’s quarterly revenue increased by 14.4% compared to the same quarter last year. On average, stock analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.46 per share. This represents a dividend of $1.84 on an annualized basis and a dividend yield of 1.44%. The ex-date of this dividend is Thursday, June 30. Republic Services’ payout ratio is currently 43.60%.

In other news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction that took place on Tuesday, June 7. The shares were sold at an average price of $135.19, for a total transaction of $2,027,850.00. Following the completion of the sale, the COO now owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, CAD Brian A. Goebel sold 347 shares of Republic Services in a trade on Thursday, June 2. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following completion of the transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. 0.06% of the shares are currently held by insiders of the company.

Profile of the services of the Republic (Get a rating)

Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.

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Institutional ownership by quarter for Republic Services (NYSE:RSG)



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