Republic Services, Inc. $RSG Shares Bought by Harbour Investments Inc.

Key Points

• Harbour Investments increased its stake in Republic Services by 959.4% in the fourth quarter, ending with 18,963 shares worth about $4.0 million.
• Republic Services reported better-than-expected quarterly earnings, posting $1.70 EPS versus the $1.64 estimate, while revenue came in slightly above forecasts at $4.11 billion.
• The company also announced a quarterly dividend of $0.625 per share, payable July 15, which works out to an annualized yield of about 1.2%.

Harbour Investments Inc. grew its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 959.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,963 shares of the business services provider's stock after acquiring an additional 17,173 shares during the period. Harbour Investments Inc.'s holdings in Republic Services were worth $4,019,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the 4th quarter worth $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services during the 3rd quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Republic Services by 121.8% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Republic Services during the 3rd quarter worth $29,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the company's stock in a transaction on Monday, May 18th. The shares were bought at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the purchase, the insider owned 110,803,982 shares of the company's stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 987,150 shares of company stock valued at $202,366,682 in the last quarter. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on RSG shares. Weiss Ratings lowered shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Citigroup decreased their price target on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Barclays lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Finally, Wolfe Research started coverage on shares of Republic Services in a report on Friday, March 13th. They issued a "peer perform" rating for the company. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $245.15.

Republic Services Trading Down 1.0%

NYSE RSG opened at $206.84 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50-day simple moving average of $212.33 and a 200-day simple moving average of $214.90. The firm has a market capitalization of $63.64 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 3.44 and a beta of 0.43. Republic Services, Inc. has a one year low of $196.41 and a one year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Republic Services's quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Republic Services, Inc. will post 7.27 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. 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 dividend yield of 1.2%. Republic Services's dividend payout ratio (DPR) is presently 36.15%.

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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