Focus Partners Wealth Buys 3,145 Shares of Republic Services, Inc. (NYSE:RSG)

Focus Partners Wealth lifted its stake in Republic Services, Inc. (NYSE:RSG) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 161,783 shares of the business services provider’s stock after acquiring an additional 3,145 shares during the period. Focus Partners Wealth’s holdings in Republic Services were worth $32,548,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after buying an additional 4,827 shares during the last quarter. DnB Asset Management AS grew its position in shares of Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock valued at $14,672,000 after purchasing an additional 28,764 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Republic Services during the 4th quarter worth about $4,430,000. Czech National Bank boosted its stake in Republic Services by 6.1% during the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock valued at $8,879,000 after purchasing an additional 2,548 shares during the period. Finally, Hickory Point Bank & Trust acquired a new stake in Republic Services in the 4th quarter valued at approximately $790,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

RSG opened at $248.56 on Friday. The company has a fifty day moving average price of $240.12 and a two-hundred day moving average price of $222.68. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $253.54. The firm has a market capitalization of $77.67 billion, a PE ratio of 38.30, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 earnings per share. As a group, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.93%. Republic Services’s dividend payout ratio is presently 34.99%.

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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Royal Bank of Canada restated an “outperform” rating and issued a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Stifel Nicolaus upped their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. BMO Capital Markets boosted their price target on Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Morgan Stanley raised their price objective on Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.00.

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.