Carnegie Investment Counsel Cuts Holdings in Republic Services, Inc. $RSG

Carnegie Investment Counsel reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,826 shares of the business services provider’s stock after selling 4,276 shares during the quarter. Carnegie Investment Counsel’s holdings in Republic Services were worth $13,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC purchased a new stake in Republic Services during the 4th quarter valued at $25,000. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services in the 3rd quarter worth $26,000. Prosperity Bancshares Inc bought a new position in shares of Republic Services in the fourth quarter worth about $30,000. Sound Income Strategies LLC purchased a new position in Republic Services during the fourth quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC bought a new position in Republic Services in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 987,150 shares of company stock valued at $202,366,682 over the last ninety days. 0.12% of the stock is currently owned by insiders.

Republic Services Stock Up 0.1%

Shares of Republic Services stock traded up $0.32 during trading on Friday, reaching $219.00. The company’s stock had a trading volume of 773,427 shares, compared to its average volume of 1,459,172. 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 $67.38 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 3.61 and a beta of 0.40. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $246.25. The company has a 50-day simple moving average of $209.06 and a two-hundred day simple moving average of $214.40.

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, beating the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is 35.87%.

Wall Street Analyst Weigh In

Several research analysts have commented on RSG shares. Robert W. Baird dropped their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Barclays upped their price objective on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their price objective on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services 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.