AlphaQuest LLC Has $1.30 Million Holdings in Republic Services, Inc. $RSG

AlphaQuest LLC cut its position in Republic Services, Inc. (NYSE:RSG) by 31.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,137 shares of the business services provider’s stock after selling 2,802 shares during the quarter. AlphaQuest LLC’s holdings in Republic Services were worth $1,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Republic Services by 4.3% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,704 shares of the business services provider’s stock worth $361,000 after purchasing an additional 70 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of Republic Services by 11.3% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock worth $94,000 after purchasing an additional 45 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Republic Services by 959.4% during the fourth quarter. Harbour Investments Inc. now owns 18,963 shares of the business services provider’s stock worth $4,019,000 after purchasing an additional 17,173 shares in the last quarter. Allstate Corp lifted its stake in shares of Republic Services by 104.6% during the fourth quarter. Allstate Corp now owns 16,064 shares of the business services provider’s stock valued at $3,404,000 after acquiring an additional 8,211 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Republic Services by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 6,880 shares of the business services provider’s stock valued at $1,458,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several analyst reports. Robert W. Baird cut their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Morgan Stanley dropped their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. UBS Group cut their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Wolfe Research started coverage on shares of Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company boosted their price target on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of “Hold” and a consensus price target of $245.15.

Republic Services Stock Performance

Shares of NYSE RSG opened at $203.58 on Friday. The stock’s fifty day moving average price is $211.55 and its two-hundred day moving average price is $214.90. Republic Services, Inc. has a one year low of $196.41 and a one year high of $258.75. The firm has a market cap of $62.63 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 3.38 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio is 36.15%.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have purchased 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company’s stock.

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.