HighTower Advisors LLC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 14.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,604 shares of the business services provider’s stock after selling 3,389 shares during the period. HighTower Advisors LLC’s holdings in Republic Services were worth $1,481,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Engrave Wealth Partners LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at about $33,000. Endurance Wealth Management Inc. grew its holdings in Republic Services by 317.1% in the 1st quarter. Endurance Wealth Management Inc. now owns 438 shares of the business services provider’s stock worth $33,000 after buying an additional 333 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. acquired a new position in shares of Republic Services during the fourth quarter valued at approximately $34,000. Pacitti Group Inc. acquired a new position in Republic Services in the fourth quarter worth approximately $44,000. Finally, Eudaimonia Partners LLC purchased a new position in shares of Republic Services in the first quarter worth approximately $47,000. 56.88% of the stock is currently owned by institutional investors.
Shares of NYSE:RSG opened at $82.05 on Wednesday. Republic Services, Inc. has a 1 year low of $65.37 and a 1 year high of $100.91. The firm has a market capitalization of $25.81 billion, a PE ratio of 24.28, a P/E/G ratio of 2.92 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day moving average price is $82.84 and its 200-day moving average price is $86.15.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. Republic Services had a net margin of 10.45% and a return on equity of 13.47%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the company posted $0.73 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts expect that Republic Services, Inc. will post 2.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.405 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.62 dividend on an annualized basis and a yield of 1.97%. Republic Services’s dividend payout ratio (DPR) is presently 48.50%.
In related news, COO Timothy E. Stuart sold 3,580 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $80.00, for a total transaction of $286,400.00. Following the completion of the sale, the chief operating officer now owns 18,290 shares in the company, valued at approximately $1,463,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles F. Serianni sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $81.53, for a total transaction of $122,295.00. Following the transaction, the chief financial officer now directly owns 44,156 shares in the company, valued at $3,600,038.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,580 shares of company stock valued at $528,470. Insiders own 0.20% of the company’s stock.
A number of equities research analysts have issued reports on RSG shares. UBS Group decreased their price target on shares of Republic Services from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Oppenheimer lowered their price target on Republic Services from $109.00 to $89.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating and set a $87.00 price objective for the company in a report on Monday, May 11th. Jefferies Financial Group lowered shares of Republic Services from a “buy” rating to a “hold” rating and lowered their price target for the stock from $83.00 to $81.00 in a research report on Tuesday, April 14th. Finally, BMO Capital Markets reduced their price target on shares of Republic Services from $108.00 to $87.00 in a research note on Tuesday, March 31st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $89.54.
About Republic Services
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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