Prosperity Consulting Group LLC Decreases Position in Republic Services, Inc. (NYSE:RSG)

Prosperity Consulting Group LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,479 shares of the business services provider’s stock after selling 2,521 shares during the period. Republic Services comprises about 0.8% of Prosperity Consulting Group LLC’s holdings, making the stock its 26th largest position. Prosperity Consulting Group LLC’s holdings in Republic Services were worth $5,729,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RSG. RFG Advisory LLC boosted its stake in shares of Republic Services by 0.5% during the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after buying an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Republic Services by 2.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock valued at $364,000 after buying an additional 54 shares during the period. Hexagon Capital Partners LLC boosted its position in Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after acquiring an additional 55 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Republic Services by 1.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after acquiring an additional 57 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Republic Services stock opened at $205.79 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69. The stock’s 50 day moving average price is $201.84 and its 200 day moving average price is $193.12. The firm has a market capitalization of $64.63 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.13%. Republic Services’s payout ratio is 37.54%.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on RSG. BMO Capital Markets upped their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Raymond James dropped their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Oppenheimer lowered their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Stifel Nicolaus increased their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $211.00.

Republic Services Company 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.