Sequoia Financial Advisors LLC Raises Stock Position in Republic Services, Inc. (NYSE:RSG)

Sequoia Financial Advisors LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 58.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,980 shares of the business services provider’s stock after acquiring an additional 1,475 shares during the period. Sequoia Financial Advisors LLC’s holdings in Republic Services were worth $656,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RSG. Norges Bank acquired a new stake in shares of Republic Services in the fourth quarter valued at about $258,032,000. JPMorgan Chase & Co. raised its stake in shares of Republic Services by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock valued at $835,731,000 after purchasing an additional 1,791,149 shares during the period. Magellan Asset Management Ltd lifted its position in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Republic Services by 59.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,317,702 shares of the business services provider’s stock valued at $355,002,000 after purchasing an additional 862,917 shares during the period. Finally, FMR LLC increased its stake in Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after buying an additional 563,761 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RSG. UBS Group downgraded Republic Services from a “buy” rating to a “neutral” rating and raised their target price for the company from $175.00 to $195.00 in a research note on Thursday, February 29th. Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a research note on Friday, March 15th. BMO Capital Markets upped their target price on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Oppenheimer raised their price target on shares of Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada assumed coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.15.

Republic Services Stock Performance

Shares of NYSE RSG opened at $187.27 on Tuesday. The stock has a market capitalization of $58.99 billion, a P/E ratio of 34.24, a P/E/G ratio of 3.29 and a beta of 0.68. The firm’s 50-day moving average price is $184.72 and its two-hundred day moving average price is $167.88. Republic Services, Inc. has a 52-week low of $135.33 and a 52-week high of $192.57. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the business posted $1.13 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services’s dividend payout ratio is presently 39.12%.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

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.