Ignite Planners LLC Invests $207,000 in Republic Services, Inc. (NYSE:RSG)

Ignite Planners LLC bought a new position in Republic Services, Inc. (NYSE:RSGFree Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,376 shares of the business services provider’s stock, valued at approximately $207,000.

Other large investors have also recently made changes to their positions in the company. Bangor Savings Bank boosted its position in shares of Republic Services by 210.5% during the second quarter. Bangor Savings Bank now owns 177 shares of the business services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Horizons Wealth Management bought a new position in Republic Services in the second quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL bought a new position in Republic Services in the first quarter worth approximately $34,000. Kepos Capital LP bought a new position in Republic Services in the fourth quarter worth approximately $35,000. Finally, TCI Wealth Advisors Inc. grew its stake in Republic Services by 242.7% in the first quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock worth $38,000 after purchasing an additional 199 shares in the last quarter. 57.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,500 shares of Republic Services stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.65, for a total value of $823,075.00. Following the sale, the chief financial officer now directly owns 5,071 shares in the company, valued at approximately $758,875.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CMO Amanda Hodges sold 2,712 shares of Republic Services stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the sale, the chief marketing officer now owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian M. Delghiaccio sold 5,500 shares of Republic Services stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $149.65, for a total transaction of $823,075.00. Following the sale, the chief financial officer now directly owns 5,071 shares in the company, valued at approximately $758,875.15. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Republic Services Price Performance

Shares of RSG opened at $148.96 on Tuesday. Republic Services, Inc. has a fifty-two week low of $120.58 and a fifty-two week high of $156.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $47.12 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.92 and a beta of 0.67. The business’s 50-day moving average is $148.60 and its two-hundred day moving average is $143.28.

Republic Services (NYSE:RSGGet Free Report) last posted its earnings results on Monday, July 31st. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. Republic Services had a return on equity of 16.53% and a net margin of 10.91%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the firm earned $1.32 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts predict that Republic Services, Inc. will post 5.35 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.44%. This is a boost from Republic Services’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, September 29th. Republic Services’s payout ratio is presently 39.84%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RSG. Morgan Stanley increased their price objective on Republic Services from $158.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 1st. Oppenheimer upped their target price on Republic Services from $158.00 to $159.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. StockNews.com initiated coverage on Republic Services in a report on Thursday, August 17th. They set a “buy” rating for the company. Citigroup increased their price objective on Republic Services from $177.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Royal Bank of Canada increased their price objective on Republic Services from $156.00 to $163.00 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

View Our Latest Research Report on Republic Services

Republic Services Profile

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.

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

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