HB Wealth Management LLC Purchases 2,857 Shares of Republic Services, Inc. $RSG

HB Wealth Management LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 10.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,048 shares of the business services provider’s stock after purchasing an additional 2,857 shares during the quarter. HB Wealth Management LLC’s holdings in Republic Services were worth $6,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SteelPeak Wealth LLC lifted its holdings in Republic Services by 130.0% during the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after buying an additional 7,001 shares during the period. Rathbones Group PLC boosted its holdings in Republic Services by 11.5% in the third quarter. Rathbones Group PLC now owns 93,182 shares of the business services provider’s stock valued at $21,383,000 after acquiring an additional 9,611 shares during the last quarter. Numerai GP LLC acquired a new stake in Republic Services during the 3rd quarter valued at approximately $7,934,000. CIBC Bancorp USA Inc. bought a new position in Republic Services during the 3rd quarter worth approximately $7,079,000. Finally, Natixis Advisors LLC raised its holdings in Republic Services by 8.6% during the 3rd quarter. Natixis Advisors LLC now owns 203,444 shares of the business services provider’s stock worth $46,687,000 after purchasing an additional 16,027 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. 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 research report on Friday, May 8th. Barclays boosted their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. UBS Group lowered their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, Wolfe Research initiated coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.26.

Republic Services Price Performance

Shares of NYSE:RSG opened at $217.27 on Friday. The firm has a market capitalization of $66.85 billion, a PE ratio of 31.17, a P/E/G ratio of 3.58 and a beta of 0.40. 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 50-day moving average price of $208.07 and a two-hundred day moving average price of $214.23. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.25.

Republic Services (NYSE:RSG) last posted its quarterly 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. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Equities analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is presently 35.87%.

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.