TritonPoint Partners LLC Makes New Investment in Republic Services, Inc. $RSG

TritonPoint Partners LLC acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,141 shares of the business services provider’s stock, valued at approximately $666,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its stake in Republic Services by 6.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,560 shares of the business services provider’s stock worth $7,748,000 after acquiring an additional 2,301 shares in the last quarter. Piedmont Capital Management LLC NC acquired a new stake in shares of Republic Services in the fourth quarter valued at $323,000. MML Investors Services LLC increased its stake in shares of Republic Services by 9.9% in the fourth quarter. MML Investors Services LLC now owns 22,492 shares of the business services provider’s stock valued at $4,767,000 after buying an additional 2,018 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Republic Services by 95.5% in the fourth quarter. Focus Partners Wealth now owns 255,439 shares of the business services provider’s stock valued at $55,323,000 after buying an additional 124,808 shares in the last quarter. Finally, Eventide Asset Management LLC increased its stake in shares of Republic Services by 4.8% in the fourth quarter. Eventide Asset Management LLC now owns 10,827 shares of the business services provider’s stock valued at $2,309,000 after buying an additional 494 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RSG. Wolfe Research began coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. UBS Group lowered their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. BMO Capital Markets lowered their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. raised their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Republic Services Price Performance

Republic Services stock opened at $209.75 on Monday. The business’s 50-day simple moving average is $208.84 and its 200 day simple moving average is $214.52. The stock has a market cap of $64.53 billion, a price-to-earnings ratio of 30.09, a P/E/G ratio of 3.45 and a beta of 0.41. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $253.38. 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 posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share. As a group, research analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is 35.87%.

Insider Buying and Selling

In related news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 987,150 shares of company stock worth $202,366,682 over the last quarter. 0.12% of the stock is currently owned by corporate 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.