Republic Services, Inc. $RSG Stock Holdings Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 58.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,418 shares of the business services provider’s stock after acquiring an additional 3,470 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Republic Services were worth $2,063,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Federated Hermes Inc. lifted its stake in Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after acquiring an additional 3,303 shares in the last quarter. NewEdge Advisors LLC boosted its position in Republic Services by 3.6% during the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock worth $7,322,000 after acquiring an additional 1,044 shares during the period. Treasurer of the State of North Carolina grew its stake in Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after acquiring an additional 688 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of Republic Services by 68.4% in the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock valued at $2,871,000 after purchasing an additional 4,729 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 1.2%

RSG opened at $219.26 on Thursday. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $240.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $67.46 billion, a P/E ratio of 31.46, a P/E/G ratio of 3.62 and a beta of 0.40. The firm’s fifty day moving average price is $212.46 and its two-hundred day moving average price is $215.01.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Republic Services, Inc. will post 7.29 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 35.87%.

Insider Transactions at Republic Services

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Robert W. Baird cut their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Royal Bank Of Canada raised their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, UBS Group lowered their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Company 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.