Summit Financial LLC Has $2.27 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Summit Financial LLC lessened its stake in Republic Services, Inc. (NYSE:RSG) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,294 shares of the business services provider’s stock after selling 105 shares during the quarter. Summit Financial LLC’s holdings in Republic Services were worth $2,272,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Republic Services in the 4th quarter worth $553,039,000. Stifel Financial Corp boosted its position in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after buying an additional 1,477,255 shares during the period. Wellington Management Group LLP raised its position in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after buying an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Republic Services in the 4th quarter valued at approximately $184,827,000. Finally, Nordea Investment Management AB boosted its position in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of research reports. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Morgan Stanley upped their target price on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Trading Up 1.6 %

Shares of NYSE:RSG opened at $242.42 on Tuesday. The stock has a market cap of $75.70 billion, a PE ratio of 37.35, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $243.13. The business has a 50 day moving average of $228.29 and a 200-day moving average of $214.13.

Republic Services (NYSE:RSG) last issued its quarterly earnings data 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 firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $1.41 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the business’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 completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

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.