Sandy Spring Bank Increases Position in Republic Services, Inc. (NYSE:RSG)

Sandy Spring Bank raised its position in Republic Services, Inc. (NYSE:RSG) by 97.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396 shares of the business services provider’s stock after purchasing an additional 195 shares during the quarter. Sandy Spring Bank’s holdings in Republic Services were worth $65,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Financial Counselors Inc. increased its position in shares of Republic Services by 11.8% during the fourth quarter. Financial Counselors Inc. now owns 2,082 shares of the business services provider’s stock worth $343,000 after acquiring an additional 219 shares during the period. Liberty One Investment Management LLC increased its holdings in Republic Services by 0.3% in the fourth quarter. Liberty One Investment Management LLC now owns 156,273 shares of the business services provider’s stock valued at $25,771,000 after buying an additional 535 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Republic Services by 58.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,980 shares of the business services provider’s stock valued at $656,000 after buying an additional 1,475 shares during the last quarter. Tobam increased its holdings in Republic Services by 204.0% in the fourth quarter. Tobam now owns 2,654 shares of the business services provider’s stock valued at $438,000 after buying an additional 1,781 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Republic Services in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.7 %

Shares of Republic Services stock opened at $187.82 on Friday. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.57. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a market cap of $59.16 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.29 and a beta of 0.68. The company has a 50-day moving average of $184.44 and a two-hundred day moving average of $167.42.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Republic Services, Inc. will post 6 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Insider Transactions at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Republic Services from $182.00 to $209.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Citigroup increased their target price on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. 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 target price for the company. Jefferies Financial Group increased their target price on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.15.

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.