Commonwealth Equity Services LLC Strengthens Market Position of Republic Services, Inc. (NYSE:RSG)


Commonwealth Equity Services LLC increased its stake in the shares of Republic Services, Inc. (NYSE: RSGGet a rating) by 10.0% in the 1st quarter, HoldingsChannel reports. The fund held 41,271 shares of the business services provider after buying an additional 3,763 shares during the period. Commonwealth Equity Services LLC’s holdings in Republic Services were worth $5,468,000 when it was last filed with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently changed their positions in the company. Banque Pictet & Cie SA increased its equity stake in Republic Services by 27.3% in the first quarter. Banque Pictet & Cie SA now owns 21,336 shares of the business services provider worth $2,827,000 after purchasing an additional 4,571 shares during the period. Vaughan Nelson Investment Management LP increased its equity stake in Republic Services to 82.3% in the first quarter. Vaughan Nelson Investment Management LP now owns 296,792 shares of the business services provider worth $39,325,000 after purchasing an additional 134,011 shares during the period. Metis Global Partners LLC increased its equity stake in Republic Services by 46.3% in the first quarter. Metis Global Partners LLC now owns 4,900 shares of the business services provider worth $650,000 after purchasing an additional 1,551 shares during the period. Cookson Peirce & Co. Inc. increased its equity stake in Republic Services by 11.4% in the first quarter. Cookson Peirce & Co. Inc. now owns 5,443 shares of the business services provider worth $721,000 after purchasing an additional 557 shares during the period. Finally, FinTrust Capital Advisors LLC increased its equity stake in Republic Services by 123.6% in the first quarter. FinTrust Capital Advisors LLC now owns 237 shares of the business services provider worth $32,000 after buying 131 additional shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s shares.

Republic services trade up 1.6%

NYSE: RSG opened at $140.40 on Thursday. 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 low of $113.57 and a 12-month high of $145.98. The company has a market capitalization of $44.35 billion, a PE ratio of 33.27, a growth price-earnings ratio of 2.80 and a beta of 0.72. The company has a 50-day simple moving average of $130.53 and a two-hundred-day simple moving average of $129.38.

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 the consensus estimate of $1.05 by $0.09. The company posted revenue of $2.97 billion for the quarter, versus $2.89 billion expected by analysts. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company’s revenue increased by 14.4% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $0.93. Research analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current year.

The services of the Republic increase their dividends

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Monday, October 3 will receive a dividend of $0.495 per share. This represents an annualized dividend of $1.98 and a dividend yield of 1.41%. The ex-dividend date is Friday, September 30. This is a boost from Republic Services’ previous quarterly dividend of $0.46. Republic Services’ dividend payout ratio (DPR) is currently 43.60%.

Insider Trading at Republic Services

In other news, CAD Brian A. Goebel sold 347 shares of Republic Services in a trade on Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. As a result of the transaction, the accounting chief now owns 6,186 shares of the company, valued at approximately $835,171.86. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. In related news, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade 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 transaction, the chief operating officer now owns 19,675 shares of the company, valued at approximately $2,659,863.25. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, CAO Brian A. Goebel sold 347 shares of Republic Services in a trade on Thursday, June 2. The shares were sold at an average price of $135.01, for a total transaction of $46,848.47. As a result of the transaction, the accounting chief now owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. Company insiders own 0.06% of the company’s shares.

Analyst upgrades and downgrades

RSG has been the subject of a number of research analyst reports. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the company from $140.00 to $150.00 in a Friday, May 13 research note. Morgan Stanley raised its price target on Republic Services from $142.00 to $147.00 and gave the company an “overweight” rating in a Wednesday, July 20 research note. Oppenheimer set a target price of $139.00 on Republic Services shares in a Tuesday, July 19 report. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a target price of $147.00 for the company in a Thursday, June 16 report. Finally, 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. Two research analysts gave the stock a hold rating, four gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat, Republic Services currently has an average rating of “Buy” and a consensus target price of $142.33.

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.

See also

Want to see which other hedge funds hold RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE: RSGGet a rating).

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



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