RiverFront Investment Group LLC Buys Shares of 3,219 Republic Services, Inc. $RSG

RiverFront Investment Group LLC bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,219 shares of the business services provider’s stock, valued at approximately $682,000.

A number of other large investors also recently added to or reduced their stakes in the business. ICONIQ Capital LLC lifted its position in Republic Services by 3.3% during the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 50 shares during the period. Prospera Financial Services Inc lifted its position in Republic Services by 1.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock valued at $1,094,000 after purchasing an additional 51 shares during the period. Composition Wealth LLC increased its stake in shares of Republic Services by 1.4% in the 4th quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after acquiring an additional 52 shares during the last quarter. Florida Trust Wealth Management Co increased its stake in shares of Republic Services by 5.4% in the 3rd quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 54 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC increased its stake in shares of Republic Services by 0.9% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock valued at $1,393,000 after acquiring an additional 54 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on RSG shares. Royal Bank Of Canada upped their price target on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Scotiabank lowered their price target on Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 21st. Wolfe Research started coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Morgan Stanley lowered their price target on Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $245.15.

Insider Buying and Selling at Republic Services

In other Republic Services 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 stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by company insiders.

Republic Services News Summary

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Major shareholder Cascade Investment, L.L.C. made another large purchase of 307,505 shares, reinforcing confidence in Republic Services’ outlook. Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Acquires 307,505 Shares
• Positive Sentiment: Cascade Investment also bought 119,795 shares and 60,700 shares in separate transactions, adding to a multi-day buying streak that may signal insider optimism. Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Purchases 119,795 Shares Republic Services (NYSE:RSG) Major Shareholder Cascade Investment, L.L.C. Buys 60,700 Shares of Stock
• Positive Sentiment: The company recently reported better-than-expected quarterly results, with EPS of $1.70 topping estimates and revenue edging above forecasts, which supports the stock’s fundamental backdrop.
• Neutral Sentiment: Republic Services also announced a quarterly dividend of $0.625 per share, indicating steady shareholder returns but not a major near-term catalyst.

Republic Services Price Performance

NYSE RSG opened at $214.43 on Tuesday. The business has a 50 day simple moving average of $214.32 and a 200 day simple moving average of $214.83. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $65.97 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.43 and a beta of 0.43.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the business earned $1.58 EPS. Republic Services’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 35.87%.

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.