Stevens Capital Management LP Buys New Position in Republic Services, Inc. (NYSE:RSG)

Stevens Capital Management LP bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,640 shares of the business services provider’s stock, valued at approximately $330,000.

Several other hedge funds also recently added to or reduced their stakes in RSG. First Horizon Advisors Inc. increased its position in Republic Services by 11.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider’s stock valued at $106,000 after buying an additional 55 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Republic Services by 3.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 275,465 shares of the business services provider’s stock valued at $55,324,000 after buying an additional 10,303 shares in the last quarter. Pacer Advisors Inc. increased its position in Republic Services by 15.6% during the 3rd quarter. Pacer Advisors Inc. now owns 39,614 shares of the business services provider’s stock valued at $7,956,000 after buying an additional 5,334 shares in the last quarter. Citigroup Inc. increased its position in Republic Services by 13.8% during the 3rd quarter. Citigroup Inc. now owns 252,827 shares of the business services provider’s stock valued at $50,778,000 after buying an additional 30,655 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Republic Services during the 3rd quarter valued at about $233,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of Republic Services stock opened at $232.95 on Monday. The business has a 50 day simple moving average of $224.90 and a two-hundred day simple moving average of $212.70. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $240.95. The stock has a market capitalization of $72.75 billion, a P/E ratio of 35.89, a PEG ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. Republic Services’s dividend payout ratio is presently 35.75%.

Analysts Set New Price Targets

Several research firms have weighed in on RSG. UBS Group boosted their price target on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group boosted their price target on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $236.88.

About Republic Services

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.