Faithward Advisors LLC Grows Stock Position in Republic Services, Inc. $RSG

Faithward Advisors LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 2,991.1% during the first quarter, Holdings Channel reports. The institutional investor owned 35,949 shares of the business services provider’s stock after purchasing an additional 34,786 shares during the quarter. Republic Services accounts for 1.1% of Faithward Advisors LLC’s holdings, making the stock its 22nd largest holding. Faithward Advisors LLC’s holdings in Republic Services were worth $7,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Republic Services in the 4th quarter valued at about $617,165,000. Capital World Investors boosted its position in Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley boosted its position in Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Wellington Management Group LLP increased its stake in shares of Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after purchasing an additional 807,525 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Republic Services by 118.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider’s stock valued at $214,376,000 after purchasing an additional 548,926 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE:RSG opened at $209.19 on Wednesday. The company has a 50 day moving average of $207.09 and a 200 day moving average of $214.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market cap of $64.36 billion, a P/E ratio of 30.01, a P/E/G ratio of 3.36 and a beta of 0.41. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $251.17.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 36.15%.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction dated 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 owned 58 shares of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 987,150 shares of company stock valued at $202,366,682 in the last three months. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Barclays increased their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price objective 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 equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $243.26.

Republic Services Company 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.