Allworth Financial LP increased its equity stake in Republic Services, Inc. (NYSE: RSG – Get a rating) by 114.4% during the first quarter, HoldingsChannel reports. The company held 253 shares of the business services provider after purchasing an additional 135 shares during the period. Allworth Financial LP’s holdings in Republic Services were worth $34,000 when it last filed with the Securities and Exchange Commission (SEC).
Other institutional investors have also increased or reduced their stake in the company. Spire Wealth Management increased its stake in Republic Services by 1.9% in the fourth quarter. Spire Wealth Management now owns 5,881 shares of the business services provider worth $820,000 after buying 110 more shares last quarter. Mountain Pacific Investment Advisers Inc. ID purchased a new stake in Republic Services in Q4 for approximately $206,000. AdvisorNet Financial Inc increased its stake in Republic Services by 10.9% in the fourth quarter. AdvisorNet Financial Inc now owns 1,877 shares of the business services provider worth $262,000 after buying an additional 185 shares in the last quarter. Tandem Investment Advisors Inc. increased its stake in Republic Services by 8.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 335,265 shares of the business services provider worth $46,753,000 after buying an additional 26,345 shares last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Republic Services by 5.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,496 shares of the business services provider worth $3,137,000 after buying an additional 1,088 shares in the last quarter. 92.80% of the shares are currently held by institutional investors.
A number of research companies have published reports on RSG. StockNews.com began covering Republic Services in a research note on Thursday, March 31. They established a “Strong Buy” rating for the company. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research note. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 for the company in a Thursday, June 16 research note. Bank of America upgraded 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, May 13 research note. Finally, Morgan Stanley cut its price target on Republic Services from $152.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, June 22 research note. Two analysts gave the stock a hold rating, six gave the company a buy rating and two gave the company a high buy rating. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Buy” and a consensus target price of $138.14.
Separately, CAO Brian A. Goebel sold 347 shares of the company in a trade that took place on Thursday, June 2. The stock was sold at an average price of $135.01, for a total value of $46,848.47. As a result of the transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at approximately $835,171.86. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction that took place on Tuesday, June 7. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the sale, the COO now directly owns 19,675 shares of the company, valued at $2,659,863.25. Disclosure of this sale can be found here. 0.06% of the shares are currently held by insiders.
Shares of NYSE: RSG opened at $128.40 on Wednesday. The stock has a 50-day moving average of $129.96 and a 200-day moving average of $129.60. The company has a market capitalization of $40.56 billion, a PE ratio of 30.43, a growth price-earnings ratio of 2.64 and a beta of 0.73. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 1.07. Republic Services, Inc. has a 12 month minimum of $112.29 and a 12 month maximum of $145.98.
Services of the Republic (NYSE: RSG – Get a rating) last reported quarterly earnings data on Thursday, May 5. The business services provider reported earnings per share (EPS) of $1.14 for the quarter, beating analyst consensus estimates of $1.05 by $0.09. The company posted revenue of $2.97 billion in the quarter, versus a consensus estimate of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company’s revenue increased 14.4% year over year. During the same period a year earlier, the company posted EPS of $0.93. Equity research analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Friday, July 1 will receive a dividend of $0.46. The ex-date of this dividend is Thursday, June 30. This represents a dividend of $1.84 on an annualized basis and a yield of 1.43%. Republic Services’ dividend payout ratio is currently 43.60%.
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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