TritonPoint Partners LLC Takes $666,000 Position in Republic Services, Inc. $RSG

TritonPoint Partners LLC bought a new stake in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,141 shares of the business services provider’s stock, valued at approximately $666,000.

Other large investors also recently made changes to their positions in the company. Wealth Watch Advisors INC acquired a new position in shares of Republic Services in the 3rd quarter valued at about $26,000. Laurel Wealth Advisors LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in shares of Republic Services in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.1%

Shares of Republic Services stock opened at $209.75 on Monday. The stock has a market capitalization of $64.53 billion, a P/E ratio of 30.09, a PEG ratio of 3.45 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average price of $208.84 and a two-hundred day moving average price of $214.52. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $253.38.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. Equities analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio is presently 35.87%.

Insider Buying and Selling

In related news, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the company’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider directly owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RSG. Wolfe Research began coverage on Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. BMO Capital Markets dropped their price objective on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Morgan Stanley dropped their price objective on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.