Successful Portfolios LLC Trims Stock Position in Republic Services, Inc. (NYSE:RSG)

Successful Portfolios LLC lowered its stake in Republic Services, Inc. (NYSE:RSG) by 4.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,295 shares of the business services provider’s stock after selling 111 shares during the quarter. Successful Portfolios LLC’s holdings in Republic Services were worth $439,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Unigestion Holding SA boosted its stake in shares of Republic Services by 2,178.2% during the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Republic Services by 52.3% during the fourth quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after purchasing an additional 73,651 shares during the last quarter. TCW Group Inc. purchased a new stake in shares of Republic Services in the fourth quarter valued at $17,903,000. Hsbc Holdings PLC lifted its position in Republic Services by 8.7% during the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after buying an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Republic Services by 10.4% in the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after buying an additional 55,668 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RSG. Scotiabank increased their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Royal Bank of Canada initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective for the company. Jefferies Financial Group upped their price objective on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. UBS Group lifted their target price on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $201.14.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth purchased 540 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on 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 completion of 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Katharine Weymouth purchased 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Trading Down 0.2 %

RSG opened at $194.34 on Monday. The firm’s 50 day moving average is $188.74 and its 200-day moving average is $181.33. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $196.76. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $61.20 billion, a P/E ratio of 34.09, a P/E/G ratio of 3.26 and a beta of 0.69.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.81% and a return on equity of 17.56%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. Analysts expect that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. 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 dividend payout ratio (DPR) is presently 37.54%.

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.