1,160 Shares in Republic Services, Inc. (NYSE:RSG) Bought by Worth Asset Management LLC

Worth Asset Management LLC acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,160 shares of the business services provider’s stock, valued at approximately $222,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Republic Services by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock worth $948,971,000 after purchasing an additional 44,512 shares in the last quarter. Capital World Investors grew its stake in shares of Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Morgan Stanley grew its stake in shares of Republic Services by 4.1% in the third quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after purchasing an additional 197,654 shares in the last quarter. Northern Trust Corp grew its stake in shares of Republic Services by 4.8% in the third quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after purchasing an additional 109,437 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Republic Services in the fourth quarter worth $358,837,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Up 1.5 %

NYSE:RSG opened at $194.66 on Tuesday. The firm has a market capitalization of $61.30 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.22 and a beta of 0.68. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $196.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average price is $188.29 and its 200 day moving average price is $180.47.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 earnings per share. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.10%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is currently 37.54%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup increased their price target on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada initiated coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price objective for the company. UBS Group upped their price objective on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Oppenheimer upped their price objective on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $201.14.

Insiders Place Their Bets

In other news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the transaction, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the stock in a transaction dated Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.