Dearborn Partners LLC Sells 7,727 Shares of Republic Services, Inc. $RSG

Dearborn Partners LLC lowered its stake in Republic Services, Inc. (NYSE:RSG) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,769 shares of the business services provider’s stock after selling 7,727 shares during the period. Republic Services accounts for 1.8% of Dearborn Partners LLC’s holdings, making the stock its 9th largest holding. Dearborn Partners LLC’s holdings in Republic Services were worth $36,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of Republic Services during the third quarter worth $26,000. Ameriflex Group Inc. acquired a new position in shares of Republic Services during the third quarter worth $29,000. Sound Income Strategies LLC acquired a new position in shares of Republic Services during the fourth quarter worth $32,000. Finally, MCF Advisors LLC lifted its holdings in shares of Republic Services by 72.3% during the fourth quarter. MCF Advisors LLC now owns 224 shares of the business services provider’s stock worth $47,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 987,150 shares of company stock worth $202,366,682 over the last ninety days. 0.12% of the stock is owned by company insiders.

Republic Services Price Performance

Shares of NYSE RSG opened at $210.59 on Friday. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $255.47. The firm has a fifty day simple moving average of $209.81 and a 200 day simple moving average of $214.75. The company has a market capitalization of $64.79 billion, a PE ratio of 30.21, a P/E/G ratio of 3.46 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm earned $1.58 earnings per share. Republic Services’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RSG. Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. UBS Group cut their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. BMO Capital Markets cut their price target on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada lifted their price target on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $245.15.

About Republic Services

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.