Spire Wealth Management reduced its holdings of shares in Republic Services, Inc. (NYSE: RSG – Get a rating) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filed with the Securities & Exchange Commission. The company held 5,574 shares of the business services provider after selling 307 shares during the quarter. Spire Wealth Management’s holdings in Republic Services were worth $739,000 when it last filed with the SEC.
Other hedge funds also changed their holdings in the company. Benjamin Edwards Inc. increased its stake in Republic Services by 0.4% in the fourth quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider worth $2,523,000 after buying 79 more shares in the last quarter. Profund Advisors LLC increased its stake in Republic Services by 2.9% in the fourth quarter. Profund Advisors LLC now owns 2,928 shares of the business services provider worth $408,000 after buying 82 additional shares in the last quarter. HighTower Advisors LLC increased its stake in Republic Services by 0.3% in the fourth quarter. HighTower Advisors LLC now owns 24,418 shares of the business services provider worth $3,405,000 after buying 82 additional shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Republic Services by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,965 shares of the business services provider worth $692,000 after buying 87 additional shares in the last quarter. Finally, CVA Family Office LLC increased its stake in Republic Services by 30.8% in the fourth quarter. CVA Family Office LLC now owns 403 shares of the business services provider worth $56,000 after buying 95 additional shares in the last quarter. 92.80% of the shares are currently held by institutional investors.
Several research companies have published reports on RSG. Deutsche Bank Aktiengesellschaft downgraded Republic Services shares 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. 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 research note. Morgan Stanley lowered its price target on Republic Services shares from $152.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, June 22 research note. StockNews.com began covering shares of Republic Services in a research note on Thursday, March 31. They established a “Strong Buy” rating for the company. Finally, Bank of America upgraded Republic Services shares from a “neutral” rating to a “buy” rating and raised its price target for the stock from $140.00 to $150.00 in a rating of research from Friday, May 13. Two equity research analysts gave the stock a hold rating, six gave the company a buy rating and two gave the company a strong buy rating. According to data from MarketBeat, Republic Services currently has a consensus rating of “Buy” and an average target price of $138.14.
NYSE RSG opened at $130.87 on Friday. The company has a market capitalization of $41.34 billion, a PE ratio of 31.01, a P/E/G ratio of 2.64 and a beta of 0.75. The company has a fifty-day moving average of $130.47 and a 200-day moving average of $129.90. Republic Services, Inc. has a 1-year minimum of $110.07 and a 1-year maximum of $145.98. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75.
Services of the Republic (NYSE: RSG – Get a rating) last reported results 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 net margin of 11.54% and a return on equity of 15.60%. The company’s quarterly revenue increased 14.4% year over year. During the same period a year earlier, the company posted earnings per share of $0.93. Research analysts expect Republic Services, Inc. to post earnings per share of 4.67 for the current year.
The company also recently announced 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. The ex-date of this dividend is Thursday, June 30. This represents a dividend of $1.84 on an annualized basis and a dividend yield of 1.41%. Republic Services’ dividend payout ratio (DPR) is currently 43.60%.
In other news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction dated 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 the SEC website. Additionally, CAO Brian A. Goebel sold 347 shares of the company in a trade dated Thursday, June 2. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. As a result of the sale, the accounting chief now directly 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.
Republic Services Company Profile (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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