Republic Services, Inc. $RSG Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,470 shares of the business services provider’s stock after buying an additional 6,090 shares during the quarter. Kestra Advisory Services LLC’s holdings in Republic Services were worth $6,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. SteelPeak Wealth LLC boosted its stake in Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after buying an additional 7,001 shares during the period. Numerai GP LLC acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $7,934,000. CIBC Bancorp USA Inc. acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $7,079,000. SG Americas Securities LLC boosted its position in shares of Republic Services by 1,337.9% during the 4th quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock worth $121,995,000 after purchasing an additional 535,603 shares during the period. Finally, iA Global Asset Management Inc. increased its holdings in Republic Services by 18.5% in the 4th quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock valued at $13,606,000 after purchasing an additional 10,000 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RSG shares. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Wells Fargo & Company boosted their price objective on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Barclays increased their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Citigroup boosted their price target on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $243.89.

Republic Services Stock Down 1.5%

Republic Services stock opened at $219.96 on Wednesday. The firm has a market capitalization of $67.67 billion, a P/E ratio of 31.56, a P/E/G ratio of 3.74 and a beta of 0.40. 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 stock’s fifty day simple moving average is $209.66 and its 200-day simple moving average is $214.53.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (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 during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the business posted $1.58 earnings per share. Republic Services’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s payout ratio is currently 35.87%.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services 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 owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company’s stock.

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.