Proficio Capital Partners LLC Invests $30.23 Million in Republic Services, Inc. (NYSE:RSG)

Proficio Capital Partners LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,264 shares of the business services provider’s stock, valued at approximately $30,230,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RSG. Stifel Financial Corp lifted its stake in shares of Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after buying an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after buying an additional 1,131,850 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after buying an additional 460,989 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Republic Services by 169.3% in the third quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider’s stock worth $111,366,000 after buying an additional 348,600 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group lifted their target price on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Argus set a $260.00 target price on shares of Republic Services in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group lifted their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Trading Up 1.2 %

Shares of RSG stock opened at $232.08 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market capitalization of $72.48 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a 50 day moving average price of $221.95 and a 200 day moving average price of $211.67. Republic Services, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $240.95.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. Equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company 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.