GWN Securities Inc. Raises Holdings in Republic Services, Inc. $RSG

GWN Securities Inc. raised its stake in Republic Services, Inc. (NYSE:RSG) by 71.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,648 shares of the business services provider’s stock after acquiring an additional 13,587 shares during the period. Republic Services comprises 1.5% of GWN Securities Inc.’s holdings, making the stock its 11th largest position. GWN Securities Inc.’s holdings in Republic Services were worth $8,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after buying an additional 106 shares during the period. Capital Management Associates Inc bought a new stake in Republic Services in the 1st quarter worth $314,000. BNP Paribas Financial Markets grew its holdings in Republic Services by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock worth $116,048,000 after acquiring an additional 43,387 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Republic Services in the 1st quarter worth $22,078,000. Finally, Ascent Group LLC boosted its holdings in shares of Republic Services by 6.3% during the second quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after purchasing an additional 1,130 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RSG. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. BMO Capital Markets boosted their target price on Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reduced their target price on Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Scotiabank set a $250.00 price target on shares of Republic Services in a report on Friday, October 10th. Finally, UBS Group cut their price target on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.10.

Republic Services Trading Down 1.0%

NYSE RSG opened at $220.91 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The firm has a market capitalization of $68.97 billion, a PE ratio of 32.68, a P/E/G ratio of 3.60 and a beta of 0.59. The stock’s 50 day moving average is $227.52 and its 200 day moving average is $238.56.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. Research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is currently 36.98%.

Republic Services 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.