CIBC Private Wealth Group LLC Sells 2,064 Shares of Republic Services, Inc. (NYSE:RSG)

CIBC Private Wealth Group LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,939 shares of the business services provider’s stock after selling 2,064 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Republic Services were worth $18,407,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in Republic Services during the 3rd quarter valued at about $25,000. Arcadia Investment Management Corp MI grew its stake in shares of Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd acquired a new position in shares of Republic Services during the fourth quarter valued at about $32,000. New Age Alpha Advisors LLC boosted its stake in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after purchasing an additional 73 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in Republic Services during the 4th quarter worth approximately $45,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

NYSE:RSG opened at $242.42 on Tuesday. The stock has a market capitalization of $75.70 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $243.08. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average price is $228.29 and its 200-day moving average price is $214.13.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.08 billion. During the same period in the prior year, the company posted $1.41 EPS. As a group, equities analysts expect 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 given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Argus set a $260.00 price target on Republic Services in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s 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 transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

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.