Drake & Associates LLC Reduces Stock Position in Republic Services, Inc. $RSG

Drake & Associates LLC trimmed its position in Republic Services, Inc. (NYSE:RSG) by 28.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,817 shares of the business services provider’s stock after selling 3,101 shares during the period. Drake & Associates LLC’s holdings in Republic Services were worth $1,657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RSG. Wealth Watch Advisors INC purchased a new position in shares of Republic Services during the third quarter valued at approximately $26,000. Laurel Wealth Advisors LLC acquired a new position in Republic Services in the 4th quarter valued at $25,000. Ameriflex Group Inc. purchased a new position in shares of Republic Services during the 3rd quarter worth $29,000. Prosperity Bancshares Inc purchased a new position in shares of Republic Services during the 4th quarter worth $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Republic Services during the fourth quarter worth $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider 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. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought a total of 987,150 shares of company stock valued at $202,366,682 in the last quarter. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RSG shares. Wolfe Research initiated coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Royal Bank Of Canada increased their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Trading Down 1.2%

RSG stock opened at $204.87 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market cap of $63.03 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 3.41 and a beta of 0.41. The business has a fifty day simple moving average of $207.69 and a 200-day simple moving average of $214.24. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $251.17.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The firm 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. On average, equities research analysts expect that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed 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. 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 payout ratio is currently 36.15%.

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.