Norden Group LLC Has $14.76 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Norden Group LLC raised its stake in Republic Services, Inc. (NYSE:RSG) by 2,181.7% in the 1st quarter, HoldingsChannel reports. The fund owned 77,120 shares of the business services provider’s stock after buying an additional 73,740 shares during the quarter. Norden Group LLC’s holdings in Republic Services were worth $14,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC boosted its stake in Republic Services by 2.9% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after acquiring an additional 54 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake 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 worth $59,000 after acquiring an additional 59 shares during the last quarter. Scotia Capital Inc. boosted its stake 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 worth $447,000 after acquiring an additional 64 shares during 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 worth $4,147,000 after acquiring an additional 66 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its stake in Republic Services by 0.3% in the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock valued at $3,926,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RSG. Royal Bank of Canada began coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a research note on Friday, March 15th. Oppenheimer lifted their price target 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. UBS Group lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their price target on shares of 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 stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Republic Services Stock Up 0.2 %

RSG stock opened at $193.54 on Thursday. The stock has a market capitalization of $60.95 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 3.24 and a beta of 0.69. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $196.76. The firm has a 50-day moving average price of $188.81 and a 200-day moving average price of $181.76.

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 analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Insider Activity

In other news, Director Katharine Weymouth acquired 540 shares of the stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Katharine Weymouth bought 540 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction that occurred 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 sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Republic Services Company 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.