Rossby Financial LCC Raises Position in Republic Services, Inc. $RSG

Rossby Financial LCC grew its position in Republic Services, Inc. (NYSE:RSG) by 7.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,347 shares of the business services provider’s stock after purchasing an additional 157 shares during the quarter. Rossby Financial LCC’s holdings in Republic Services were worth $579,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Ignite Planners LLC raised its holdings in shares of Republic Services by 2.8% during the second quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 43 shares during the last quarter. Gries Financial LLC raised its holdings in shares of Republic Services by 3.8% during the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 46 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Republic Services by 17.8% during the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 46 shares during the last quarter. Hemington Wealth Management raised its holdings in shares of Republic Services by 6.2% during the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 47 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its holdings in shares of Republic Services by 2.1% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock valued at $589,000 after purchasing an additional 48 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

RSG opened at $220.91 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company has a 50 day simple moving average of $227.52 and a two-hundred day simple moving average of $238.56. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The firm has a market cap of $68.97 billion, a P/E ratio of 32.68, a PEG ratio of 3.60 and a beta of 0.59.

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

Republic Services Announces Dividend

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

Analysts Set New Price Targets

RSG has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Scotiabank set a $250.00 price objective on shares of Republic Services in a report on Friday, October 10th. National Bankshares reduced their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Oppenheimer reduced their target price on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Citigroup reduced their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.10.

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.