Transcend Capital Advisors LLC buys shares of 1,572 Republic Services, Inc. (NYSE: RSG)


Transcend Capital Advisors LLC has acquired a new stake in Republic Services, Inc. (NYSE: RSGGet a rating) during the 1st trimester, Holdings Channel.com reports. The company bought 1,572 shares of the business services provider, valued at around $208,000.

Several other institutional investors and hedge funds have also recently increased or reduced their stake in RSG. Glassman Wealth Services increased its equity stake in Republic Services by 116.8% in Q1. Glassman Wealth Services now owns 206 shares of the business services provider valued at $27,000 after buying 111 additional shares during the period. Godsey & Gibb Associates acquired a new stake in Republic Services stock in Q4 worth approximately $28,000. Masso Torrence Wealth Management Inc. acquired a new stake in Republic Services stock in Q4 valued at approximately $32,000. Confluence Wealth Services Inc. acquired a new stake in shares of Republic Services in the fourth quarter worth approximately $33,000. Finally, Desjardins International Asset Management Inc. acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $38,000. 92.80% of the shares are currently held by hedge funds and other institutional investors.

In other Republic Services news, COO Timothy E. Stuart sold 15,000 shares of the company in a trade on Tuesday, June 7. The shares were 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 approximately $2,659,863.25. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Additionally, CAO Brian A. Goebel sold 347 shares of the company 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. Following the completion of the transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at $835,171.86. Disclosure of this sale can be found here. 0.06% of the shares are held by insiders of the company.

GSR action opened at $133.04 on Tuesday. The stock has a market capitalization of $42.03 billion, a PE ratio of 31.53, a growth price-earnings ratio of 2.71 and a beta of 0.73. The company’s 50-day moving average is $130.50 and its 200-day moving average is $129.75. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.75. Republic Services, Inc. has a 1-year minimum of $110.39 and a 1-year maximum of $145.98.

Services of the Republic (NYSE: RSGGet a rating) last released its quarterly earnings data on Thursday, May 5. The business services provider reported EPS of $1.14 for the quarter, beating the consensus estimate 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 analyst estimates of $2.89 billion. In the same quarter last year, the company posted EPS of $0.93. The company’s revenue for the quarter increased 14.4% year over year. On average, 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. Shareholders of record on Friday, July 1 will receive a dividend of $0.46. This represents an annualized dividend of $1.84 and a yield of 1.38%. The ex-date of this dividend is Thursday, June 30. Republic Services’ payout ratio is 43.60%.

A number of analysts have recently released reports on RSG shares. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a target price of $147.00 on the stock in a Thursday, June 16 research report. Morgan Stanley lowered its target price on Republic Services from $152.00 to $142.00 and set an “overweight” rating on the stock in a Wednesday, June 22 research report. 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 report. StockNews.com began covering Republic Services in a research report on Thursday, March 31. They issued a “Strong Buy” rating on the stock. Finally, Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research report. Two analysts gave the stock a hold rating, six issued a buy rating and two gave the company a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $138.14.

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.

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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