Stratos Wealth Partners LTD. increased its stake in Republic Services, Inc. (NYSE:RSG) by 2.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 46,085 shares of the business services provider’s stock after acquiring an additional 1,091 shares during the period. Stratos Wealth Partners LTD.’s holdings in Republic Services were worth $3,704,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in RSG. Peak Asset Management LLC increased its stake in shares of Republic Services by 0.6% during the fourth quarter. Peak Asset Management LLC now owns 21,790 shares of the business services provider’s stock valued at $1,571,000 after purchasing an additional 140 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Republic Services by 4.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,044 shares of the business services provider’s stock valued at $219,000 after purchasing an additional 141 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Republic Services by 2.1% during the fourth quarter. Suntrust Banks Inc. now owns 7,380 shares of the business services provider’s stock valued at $532,000 after purchasing an additional 154 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Republic Services by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,745 shares of the business services provider’s stock valued at $703,000 after purchasing an additional 171 shares in the last quarter. Finally, Van Leeuwen & Company LLC increased its stake in shares of Republic Services by 2.2% during the fourth quarter. Van Leeuwen & Company LLC now owns 8,310 shares of the business services provider’s stock valued at $599,000 after purchasing an additional 180 shares in the last quarter. 60.75% of the stock is owned by institutional investors.
In related news, EVP Jeffrey A. Hughes sold 10,118 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $80.40, for a total value of $813,487.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ramon A. Rodriguez sold 5,480 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.75, for a total transaction of $437,030.00. The disclosure for this sale can be found here. Insiders sold 151,575 shares of company stock worth $12,472,125 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.
Shares of NYSE:RSG traded down $0.05 during trading on Friday, reaching $85.04. 25,141 shares of the stock traded hands, compared to its average volume of 1,125,414. Republic Services, Inc. has a 52-week low of $66.40 and a 52-week high of $85.36. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.86. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.73 and a beta of 0.57.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Republic Services had a net margin of 10.25% and a return on equity of 12.72%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, June 28th. Republic Services’s dividend payout ratio is currently 48.54%.
RSG has been the subject of a number of analyst reports. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a research note on Monday, April 29th. Zacks Investment Research raised shares of Republic Services from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. Bank of America reiterated a “neutral” rating and set a $85.00 price target (up previously from $79.00) on shares of Republic Services in a report on Friday, April 26th. UBS Group increased their price target on shares of Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada assumed coverage on shares of Republic Services in a report on Wednesday, May 1st. They set a “sector perform” rating and a $87.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $81.97.
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Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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