Republic Services, Inc. $RSG Position Increased by London Co. of Virginia

Key Points

• London Co. of Virginia increased its stake in Republic Services by 19.1% in the fourth quarter, holding 383,498 shares worth about $81.3 million.
• Republic Services reported better-than-expected quarterly results, with earnings of $1.70 per share versus the $1.64 estimate and revenue of $4.11 billion slightly above expectations.
• The company declared a quarterly dividend of $0.625 per share, equal to an annualized yield of about 1.2%, while analysts currently have a consensus rating of Moderate Buy with an average price target of $243.26.

London Co. of Virginia lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,498 shares of the business services provider's stock after purchasing an additional 61,389 shares during the quarter. London Co. of Virginia owned 0.12% of Republic Services worth $81,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services in the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new stake in shares of Republic Services in the third quarter worth approximately $29,000. Sound Income Strategies LLC purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $32,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RSG has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on Republic Services from $233.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. UBS Group dropped their price objective on Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Royal Bank Of Canada increased their price objective on Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Morgan Stanley dropped their price objective on Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 18th. Finally, Citigroup dropped their price objective on Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $243.26.

Republic Services Trading Up 0.6%

Shares of RSG stock opened at $209.30 on Wednesday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $251.17. 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 business's 50 day moving average is $208.25 and its two-hundred day moving average is $214.39. The company has a market cap of $64.39 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 3.42 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. Equities analysts predict 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 $0.625 dividend. 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 dividend payout ratio (DPR) is 36.15%.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction dated 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 completion of the purchase, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the director owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company's stock.

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.

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