AlphaCore Capital LLC Has $5.58 Million Holdings in Republic Services, Inc. $RSG

Key Points

• AlphaCore Capital LLC dramatically increased its stake in Republic Services in the fourth quarter, boosting holdings by 1,386.2% to 26,321 shares worth about $5.58 million.
• Republic Services recently posted better-than-expected quarterly results, reporting EPS of $1.70 versus the $1.64 estimate and revenue of $4.11 billion, up 2.6% year over year.
• The company also announced a quarterly dividend of $0.625 per share payable July 15, while analysts currently have a consensus rating of Hold with a price target of $245.15.

AlphaCore Capital LLC grew its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 1,386.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,321 shares of the business services provider's stock after buying an additional 24,550 shares during the period. AlphaCore Capital LLC's holdings in Republic Services were worth $5,578,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ICONIQ Capital LLC boosted its position in shares of Republic Services by 3.3% during the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider's stock worth $384,000 after buying an additional 50 shares during the period. Prospera Financial Services Inc boosted its position in shares of Republic Services by 1.1% during the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider's stock worth $1,094,000 after buying an additional 51 shares during the period. Composition Wealth LLC boosted its position in Republic Services by 1.4% during the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider's stock valued at $804,000 after purchasing an additional 52 shares during the last quarter. Florida Trust Wealth Management Co boosted its position in Republic Services by 5.4% during the third quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider's stock valued at $241,000 after purchasing an additional 54 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC boosted its position in Republic Services by 0.9% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider's stock valued at $1,393,000 after purchasing an additional 54 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Argus cut Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. UBS Group reduced their price target on Republic Services from $240.00 to $223.00 and set a "neutral" rating for the company in a research report on Tuesday. Weiss Ratings cut Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Royal Bank Of Canada increased their price target on Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $245.15.

Republic Services Price Performance

NYSE:RSG opened at $208.12 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock's 50 day moving average price is $214.67 and its two-hundred day moving average price is $214.89. The firm has a market capitalization of $64.03 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 3.43 and a beta of 0.43. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services's dividend payout ratio is currently 36.15%.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 499,150 shares of company stock valued at $100,527,357 in the last 90 days. 0.12% of the stock is 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.

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