Focus Partners Wealth Purchases 124,808 Shares of Republic Services, Inc. $RSG

Focus Partners Wealth lifted its position in Republic Services, Inc. (NYSE:RSG) by 95.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 255,439 shares of the business services provider’s stock after acquiring an additional 124,808 shares during the period. Focus Partners Wealth’s holdings in Republic Services were worth $55,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. Norges Bank acquired a new stake in Republic Services during the 4th quarter valued at $617,165,000. Capital World Investors raised its position in shares of Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley raised its position in shares of Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Republic Services by 118.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider’s stock valued at $214,376,000 after purchasing an additional 548,926 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Republic Services by 1,337.9% in the fourth quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock valued at $121,995,000 after purchasing an additional 535,603 shares during the period. 57.73% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RSG shares. BMO Capital Markets dropped their price target on Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. UBS Group reduced their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Morgan Stanley cut their price target on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.26.

Republic Services Price Performance

Shares of NYSE:RSG opened at $207.96 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $252.45. The stock’s 50 day moving average is $208.53 and its 200-day moving average is $214.45. The firm has a market capitalization of $63.98 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 3.45 and a beta of 0.41.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.Republic Services’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 earnings per share. Sell-side analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.