Steward Partners Investment Advisory LLC reduced its holdings of shares in Republic Services, Inc. (NYSE: RSG – Get a rating) by 1.5% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 8,028 shares of the business services provider after selling 121 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Republic Services were worth $1,064,000 at the end of the most recent reporting period.
A number of other large investors also changed their stake in the company. Benjamin Edwards Inc. increased its stake in shares of Republic Services by 0.4% during the 4th quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider worth $2,523,000 after buying 79 more shares last quarter. Profund Advisors LLC increased its stake in shares of Republic Services by 2.9% during the 4th 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 shares of Republic Services by 0.3% during the 4th 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. Hanson & Doremus Investment Management increased its stake in Republic Services by 16.6% during the 1st quarter. Hanson & Doremus Investment Management now owns 626 shares of the business services provider worth $83,000 after buying 89 more shares last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Republic Services by 0.8% in the 1st quarter. The Louisiana State Employees Retirement System now owns 13,200 shares of the business services provider valued at $1,773,000 after buying 100 more shares in the last quarter. 92.80% of the shares are held by hedge funds and other institutional investors.
Republic Service Price Performance
GSR action opened at $132.05 on Tuesday. Republic Services, Inc. has a 52-week low of $113.57 and a 52-week high of $145.98. The stock’s fifty-day simple moving average is $129.69 and its 200-day simple moving average is $129.08. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 1.07. The stock has a market capitalization of $41.71 billion, a price-to-earnings ratio of 31.29, a growth price-to-earnings ratio of 2.66 and a beta of 0.73.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly earnings data on Thursday, May 5. The business services provider reported earnings per share (EPS) of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company posted revenue of $2.97 billion for the quarter, versus $2.89 billion expected by analysts. In the same quarter last year, the company earned $0.93 per share. The company’s revenue increased 14.4% year over year. Equity research analysts expect Republic Services, Inc. to post EPS of 4.67 for the current year.
Republic Services announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.46 per share. This represents an annualized dividend of $1.84 and a dividend yield of 1.39%. The ex-dividend date was Thursday, June 30. Republic Services’ dividend payout ratio (DPR) is 43.60%.
Insider buying and selling
In related news, CAD Brian A. Goebel sold 347 shares of the stock in a trade 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 sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Separately, CAO Brian A. Goebel sold 347 shares in a trade 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 sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, COO Timothy E. Stuart sold 15,000 shares in a trade 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 completion of the transaction, 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. Company insiders own 0.06% of the company’s shares.
A Wall Street analyst gives his opinion
Several stock analysts have weighed in on the company recently. StockNews.com alleged coverage of the services of the Republic in a research note of Thursday, March 31. They issued a “Strong Buy” rating for the company. Oppenheimer set a price target of $139.00 on Republic Services in a Tuesday, July 19 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. Morgan Stanley raised its target price on Republic Services from $142.00 to $147.00 and gave the company an “overweight” rating in a Wednesday, July 20, report. Finally, Raymond James raised his target price on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 report. Two research analysts gave the stock a hold rating, five issued a buy rating and two issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average buy rating and an average target price of $141.43.
About Republic Services
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.
Receive daily news and reviews for Republic Services – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Republic Services and related companies with MarketBeat.com’s free daily email newsletter.