Tandem Investment Advisors Inc. Reduces Stock Position in Republic Services, Inc. $RSG

Tandem Investment Advisors Inc. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 239,439 shares of the business services provider’s stock after selling 2,481 shares during the quarter. Republic Services accounts for about 1.9% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 24th largest holding. Tandem Investment Advisors Inc.’s holdings in Republic Services were worth $50,744,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RSG. Bessemer Group Inc. lifted its stake in Republic Services by 7,683.2% in the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock worth $169,768,000 after purchasing an additional 730,287 shares in the last quarter. National Pension Service lifted its stake in Republic Services by 1.2% in the 3rd quarter. National Pension Service now owns 758,644 shares of the business services provider’s stock worth $174,094,000 after purchasing an additional 9,041 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Republic Services in the 3rd quarter worth approximately $3,524,000. SteelPeak Wealth LLC lifted its stake in Republic Services by 130.0% in the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after purchasing an additional 7,001 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Republic Services by 68.8% in the 3rd quarter. Citigroup Inc. now owns 352,462 shares of the business services provider’s stock worth $80,883,000 after purchasing an additional 143,704 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RSG shares. Royal Bank Of Canada raised their price objective on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Wolfe Research started coverage on shares of Republic Services in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Finally, UBS Group lowered their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $245.15.

Republic Services Price Performance

RSG stock opened at $208.86 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75. The firm’s fifty day moving average is $212.69 and its 200 day moving average is $214.90. The firm has a market cap of $64.26 billion, a P/E ratio of 29.97, a P/E/G ratio of 3.44 and a beta of 0.43.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm earned $1.58 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

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.