Republic Services, Inc. $RSG Shares Sold by Dearborn Partners LLC

Key Points

• Dearborn Partners LLC trimmed its stake in Republic Services by 4.3% in the fourth quarter, selling 7,727 shares and leaving it with 170,769 shares worth about $36.2 million.
• Republic Services posted solid quarterly results, with EPS of $1.70 beating estimates and revenue of $4.11 billion slightly ahead of forecasts; revenue also rose 2.6% year over year.
• The company announced a quarterly dividend of $0.625 per share, or $2.50 annualized, implying a 1.2% yield; meanwhile, analysts currently rate the stock a Hold with an average price target of $245.15.

Dearborn Partners LLC reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 170,769 shares of the business services provider's stock after selling 7,727 shares during the period. Republic Services comprises 1.8% of Dearborn Partners LLC's holdings, making the stock its 9th largest position. Dearborn Partners LLC owned about 0.06% of Republic Services worth $36,191,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RSG. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the 4th quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the 3rd quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Republic Services in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC bought a new position in Republic Services in the 4th quarter valued at about $32,000. Finally, MCF Advisors LLC raised its holdings in Republic Services by 72.3% in the 4th quarter. MCF Advisors LLC now owns 224 shares of the business services provider's stock valued at $47,000 after acquiring an additional 94 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the business's stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider directly 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 987,150 shares of company stock valued at $202,366,682 in the last quarter. Company insiders own 0.12% of the company's stock.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $210.59 on Friday. The company's 50 day simple moving average is $209.81 and its 200 day simple moving average is $214.75. The stock has a market capitalization of $64.79 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 3.46 and a beta of 0.41. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $255.47.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date 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 currently 36.15%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RSG. Wells Fargo & Company increased their price target on shares of Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Wolfe Research began coverage on shares of Republic Services in a report on Friday, March 13th. They issued a "peer perform" rating on the stock. BMO Capital Markets lowered their price target on shares of Republic Services from $251.00 to $248.00 and set an "outperform" rating on the stock in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Finally, Barclays increased 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. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of "Hold" and an average price target of $245.15.

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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