Burns J W & Co. Inc. NY Invests $207,000 in Republic Services, Inc. (NYSE:RSG)

Burns J W & Co. Inc. NY purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the first quarter, HoldingsChannel reports. The firm purchased 1,080 shares of the business services provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RSG. Raleigh Capital Management Inc. grew its holdings in Republic Services by 19.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 357 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 59 shares in the last quarter. Scotia Capital Inc. grew its holdings in Republic Services by 2.4% during the 4th quarter. Scotia Capital Inc. now owns 2,708 shares of the business services provider’s stock valued at $447,000 after purchasing an additional 64 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Republic Services by 0.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock valued at $4,147,000 after acquiring an additional 66 shares during the last quarter. Parcion Private Wealth LLC boosted its stake in Republic Services by 0.3% during the 4th quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock valued at $3,926,000 after acquiring an additional 68 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in Republic Services by 4.5% during the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after acquiring an additional 70 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RSG shares. Scotiabank increased their price objective on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Oppenheimer increased their price objective on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group increased their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group raised their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a research report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.14.

Republic Services Price Performance

NYSE RSG opened at $194.34 on Friday. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week 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 stock has a market cap of $61.20 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 3.26 and a beta of 0.68. The company has a 50-day moving average price of $188.74 and a two-hundred day moving average price of $181.23.

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

Republic Services Dividend Announcement

The business 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. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.10%. Republic Services’s payout ratio is 37.54%.

About Republic Services

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.