Flputnam Investment Management Co. Increases Position in Republic Services, Inc. $RSG

Flputnam Investment Management Co. raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,611 shares of the business services provider’s stock after buying an additional 9,307 shares during the period. Flputnam Investment Management Co.’s holdings in Republic Services were worth $40,184,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RSG. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of Republic Services during the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after buying an additional 67 shares during the period. Ameriflex Group Inc. purchased a new position in shares of Republic Services during the third quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on RSG shares. Robert W. Baird dropped their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. UBS Group decreased their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Morgan Stanley decreased their price target on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Finally, BMO Capital Markets decreased their price target on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Hold” and a consensus price target of $245.15.

Republic Services Stock Performance

Shares of RSG stock opened at $206.84 on Wednesday. The business’s fifty day simple moving average is $212.33 and its 200-day simple moving average is $214.90. The company has a market cap of $63.64 billion, a PE ratio of 29.68, a PEG ratio of 3.44 and a beta of 0.43. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. Analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders bought 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by company insiders.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.