Republic Services, Inc. $RSG Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel grew its stake in Republic Services, Inc. (NYSE:RSG) by 12.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 66,142 shares of the business services provider’s stock after purchasing an additional 7,174 shares during the period. Carnegie Investment Counsel’s holdings in Republic Services were worth $15,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RSG. Norges Bank purchased a new stake in Republic Services in the 2nd quarter worth approximately $690,313,000. M&G PLC boosted its holdings in Republic Services by 113.0% during the second quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock worth $287,670,000 after buying an additional 617,939 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares during the period. Qube Research & Technologies Ltd increased its holdings in Republic Services by 174.6% in the second quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock valued at $169,038,000 after buying an additional 435,816 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Republic Services by 21.3% in the second quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock worth $573,443,000 after acquiring an additional 408,885 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RSG. JPMorgan Chase & Co. cut their price target on Republic Services from $260.00 to $233.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research report on Monday. Wells Fargo & Company initiated coverage on Republic Services in a research report on Thursday, November 13th. They set an “overweight” rating and a $238.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. Finally, Robert W. Baird set a $240.00 price objective on shares of Republic Services in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.64.

Republic Services Trading Up 0.1%

Shares of RSG opened at $213.51 on Friday. The firm’s fifty day moving average is $213.31 and its two-hundred day moving average is $227.60. The stock has a market cap of $66.09 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same period last year, the firm posted $1.81 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is presently 37.20%.

Insider Activity at Republic Services

In other news, Director Katharine Weymouth purchased 478 shares of the stock in a transaction dated Tuesday, December 9th. The shares were purchased at an average price of $209.46 per share, with a total value of $100,121.88. Following the transaction, the director owned 5,740 shares in the company, valued at $1,202,300.40. The trade was a 9.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

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.