Stance Capital LLC Purchases Shares of 5,185 Republic Services, Inc. $RSG

Stance Capital LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,185 shares of the business services provider’s stock, valued at approximately $1,279,000.

A number of other institutional investors also recently modified their holdings of RSG. Norges Bank purchased a new position in Republic Services during the 2nd quarter valued at about $690,313,000. M&G PLC grew its position in shares of Republic Services by 113.0% in the 2nd quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock worth $287,670,000 after buying an additional 617,939 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of Republic Services by 174.6% during the second quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock valued at $169,038,000 after acquiring an additional 435,816 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Republic Services by 21.3% in the second quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock worth $573,443,000 after acquiring an additional 408,885 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RSG. Wells Fargo & Company assumed coverage on shares of Republic Services in a research report on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Citigroup lowered their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Barclays assumed coverage on Republic Services in a report on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, Scotiabank dropped their price target on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.10.

Republic Services Price Performance

RSG stock opened at $213.55 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a 50 day moving average price of $215.06 and a 200-day moving average price of $230.10. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75. The firm has a market capitalization of $66.11 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 3.42 and a beta of 0.54.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a $0.625 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is presently 37.20%.

Insider Buying and Selling

In other news, Director Katharine Weymouth acquired 478 shares of Republic Services stock in a transaction on Tuesday, December 9th. The stock was acquired at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the purchase, the director owned 5,740 shares in the company, valued at $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

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.