Republic Services, Inc. (NYSE:RSG) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Republic Services, Inc. (NYSE:RSGGet Rating) by 10.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,271 shares of the business services provider’s stock after buying an additional 3,763 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Republic Services were worth $5,468,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Republic Services during the 4th quarter worth $277,394,000. BlackRock Inc. grew its stake in shares of Republic Services by 2.3% during the 4th quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider’s stock worth $2,880,704,000 after purchasing an additional 466,966 shares during the period. Marshall Wace LLP acquired a new position in shares of Republic Services during the 4th quarter worth $55,983,000. Allianz Asset Management GmbH boosted its position in shares of Republic Services by 197.2% in the 4th quarter. Allianz Asset Management GmbH now owns 547,248 shares of the business services provider’s stock worth $76,313,000 after buying an additional 363,101 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Republic Services by 27.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,342,238 shares of the business services provider’s stock worth $187,175,000 after buying an additional 285,339 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Timothy E. Stuart sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the completion of the sale, the chief operating officer now owns 19,675 shares in the company, valued at $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Timothy E. Stuart sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the completion of the sale, the chief operating officer now owns 19,675 shares in the company, valued at $2,659,863.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian A. Goebel sold 347 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $135.01, for a total value of $46,848.47. Following the completion of the sale, the chief accounting officer now owns 6,186 shares of the company’s stock, valued at approximately $835,171.86. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Republic Services from $142.00 to $147.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 20th. Raymond James upped their target price on shares of Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a report on Thursday, June 16th. Bank of America upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $150.00 in a report on Friday, May 13th. Finally, Oppenheimer set a $139.00 price objective on shares of Republic Services in a report on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $142.33.

Republic Services Trading Up 1.6 %

Shares of NYSE RSG opened at $140.40 on Thursday. Republic Services, Inc. has a one year low of $113.57 and a one year high of $145.98. The firm has a market capitalization of $44.35 billion, a PE ratio of 33.27, a PEG ratio of 2.80 and a beta of 0.72. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $130.53 and a two-hundred day moving average price of $129.38.

Republic Services (NYSE:RSGGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. As a group, analysts predict that Republic Services, Inc. will post 4.67 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 dividend on an annualized basis and a yield of 1.41%. This is a positive change from Republic Services’s previous quarterly dividend of $0.46. Republic Services’s payout ratio is currently 43.60%.

Republic Services Company Profile

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Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

See Also

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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