Foster & Motley Inc. Purchases New Position in Republic Services, Inc. (NYSE:RSG)

Foster & Motley Inc. purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,341 shares of the business services provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RSG. Magellan Asset Management Ltd grew its holdings in shares of Republic Services by 1,497,159.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock valued at $130,158,000 after purchasing an additional 913,267 shares during the last quarter. FMR LLC grew its holdings in shares of Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after purchasing an additional 563,761 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Republic Services during the 4th quarter worth approximately $77,417,000. Envestnet Asset Management Inc. grew its holdings in Republic Services by 50.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock worth $128,352,000 after acquiring an additional 303,754 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Republic Services by 1,383.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock worth $34,359,000 after acquiring an additional 224,841 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RSG. Scotiabank began coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $211.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup boosted their price target on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Morgan Stanley downgraded 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 report on Friday, March 15th. Finally, Jefferies Financial Group boosted their price target on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.77.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $193.52 on Friday. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $193.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company has a fifty day moving average price of $187.13 and a 200-day moving average price of $170.17. The firm has a market cap of $60.95 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 3.36 and a beta of 0.68.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 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 business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the business earned $1.13 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio is 39.12%.

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.