Cambridge Investment Research Advisors Inc. increased its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,611 shares of the business services provider’s stock after buying an additional 1,567 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Republic Services were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of RSG. Kepos Capital LP bought a new position in Republic Services in the fourth quarter worth approximately $35,000. TCI Wealth Advisors Inc. raised its stake in Republic Services by 242.7% in the first quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock worth $38,000 after buying an additional 199 shares in the last quarter. Fred Alger Management LLC raised its stake in Republic Services by 118.1% in the fourth quarter. Fred Alger Management LLC now owns 301 shares of the business services provider’s stock worth $39,000 after buying an additional 163 shares in the last quarter. Altshuler Shaham Ltd raised its stake in Republic Services by 1,086.2% in the fourth quarter. Altshuler Shaham Ltd now owns 344 shares of the business services provider’s stock worth $44,000 after buying an additional 315 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Republic Services by 40.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the business services provider’s stock worth $47,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 57.23% of the company’s stock.
Analyst Upgrades and Downgrades
RSG has been the topic of a number of recent analyst reports. Citigroup upped their price target on Republic Services from $177.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets upped their price target on Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Oppenheimer upped their price target on Republic Services from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Raymond James upped their price target on Republic Services from $154.00 to $167.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Finally, Royal Bank of Canada boosted their price objective on shares of Republic Services from $156.00 to $163.00 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.
Insider Transactions at Republic Services
In other news, CMO Amanda Hodges sold 2,712 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the sale, the chief marketing officer now directly owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CMO Amanda Hodges sold 2,712 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the sale, the chief marketing officer now directly owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,500 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.65, for a total transaction of $823,075.00. Following the sale, the chief financial officer now directly owns 5,071 shares in the company, valued at $758,875.15. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
Republic Services Price Performance
NYSE:RSG opened at $144.90 on Friday. Republic Services, Inc. has a one year low of $120.58 and a one year high of $156.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $45.84 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.82 and a beta of 0.66. The firm’s fifty day moving average is $149.25 and its two-hundred day moving average is $141.93.
Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.32 by $0.09. Republic Services had a net margin of 10.91% and a return on equity of 16.53%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 5.35 EPS for the current year.
Republic Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.535 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.50. This represents a $2.14 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio is presently 43.06%.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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