Concentric Capital Strategies LP grew its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 1,223.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,416 shares of the business services provider's stock after buying an additional 23,496 shares during the period. Concentric Capital Strategies LP's holdings in Republic Services were worth $5,386,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Republic Services in the 3rd quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in shares of Republic Services in the 3rd quarter valued at $29,000. Prosperity Bancshares Inc acquired a new stake in shares of Republic Services in the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Republic Services in the 4th quarter worth $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently issued reports on RSG. Morgan Stanley reduced their price target on Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 18th. BMO Capital Markets reduced their price target on Republic Services from $251.00 to $248.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 18th. Wolfe Research began coverage on Republic Services in a research report on Friday, March 13th. They issued a "peer perform" rating on the stock. Citigroup reduced their price target on Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Finally, Argus lowered Republic Services from a "buy" rating to a "hold" rating in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $243.26.
Get Our Latest Research Report on Republic Services
Insider Transactions at Republic Services
In other news, Director Sandra M. Volpe sold 1,800 shares of the business's 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. The trade was a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business's stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares of the company's stock, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company's stock.
Republic Services Stock Performance
RSG stock opened at $207.64 on Thursday. The business's 50-day moving average price is $207.99 and its two-hundred day moving average price is $214.32. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $63.88 billion, a PE ratio of 29.79, a P/E/G ratio of 3.44 and a beta of 0.41. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $251.17.
Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping 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 company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share. As a group, research analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current year.
Republic Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services's payout ratio is 35.87%.
About Republic Services
(
Free Report)
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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