OLD National Bancorp IN Grows Position in Republic Services, Inc. (NYSE:RSG)

OLD National Bancorp IN lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,998 shares of the business services provider’s stock after acquiring an additional 431 shares during the quarter. OLD National Bancorp IN’s holdings in Republic Services were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC boosted its position in shares of Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Republic Services in the fourth quarter worth about $34,000. Millburn Ridgefield Corp purchased a new position in Republic Services in the third quarter worth about $36,000. Catalyst Capital Advisors LLC purchased a new position in Republic Services in the third quarter worth about $36,000. Finally, BKM Wealth Management LLC purchased a new position in Republic Services in the fourth quarter worth about $37,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.6 %

Shares of NYSE RSG opened at $190.62 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $60.04 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 3.35 and a beta of 0.68. The stock’s fifty day simple moving average is $186.59 and its two-hundred day simple moving average is $169.85. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.99.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts expect that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.12%. Republic Services’s dividend payout ratio is presently 39.12%.

Analyst Ratings Changes

RSG has been the topic of several research reports. BMO Capital Markets raised their target price on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Royal Bank of Canada started coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective on the stock. Oppenheimer raised their price objective on Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Scotiabank began coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $199.77.

Republic Services 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.