Republic Services, Inc. $RSG Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its position in Republic Services, Inc. (NYSE:RSG) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,826 shares of the business services provider’s stock after selling 4,276 shares during the quarter. Carnegie Investment Counsel’s holdings in Republic Services were worth $13,103,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services in the 3rd quarter valued at $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services during the fourth quarter worth $25,000. Prosperity Bancshares Inc purchased a new position in shares of Republic Services during the fourth quarter worth $30,000. Sound Income Strategies LLC acquired a new position in Republic Services during the fourth quarter valued at $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Republic Services in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RSG. Barclays lifted their price objective on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Citigroup lifted their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.89.

Republic Services Price Performance

Shares of Republic Services stock traded up $0.32 during trading hours on Friday, reaching $219.00. The stock had a trading volume of 773,427 shares, compared to its average volume of 1,459,172. The stock’s 50 day moving average is $209.06 and its 200 day moving average is $214.40. The company has a current ratio of 0.67, a quick 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 $246.25. The firm has a market capitalization of $67.38 billion, a PE ratio of 31.42, a PEG ratio of 3.61 and a beta of 0.40.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Insider Buying and Selling

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the transaction, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 987,150 shares of company stock valued at $202,366,682 over the last 90 days. Company insiders own 0.12% of the company’s stock.

About Republic Services

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.