Norden Group LLC Acquires 449 Shares of Republic Services, Inc. (NYSE:RSG)

Norden Group LLC grew its holdings in Republic Services, Inc. (NYSE:RSGFree Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,829 shares of the business services provider’s stock after acquiring an additional 449 shares during the quarter. Norden Group LLC’s holdings in Republic Services were worth $733,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RSG. HB Wealth Management LLC raised its position in Republic Services by 1.4% in the 1st quarter. HB Wealth Management LLC now owns 12,728 shares of the business services provider’s stock valued at $2,437,000 after buying an additional 178 shares during the last quarter. SpiderRock Advisors LLC acquired a new stake in Republic Services in the 1st quarter valued at approximately $2,268,000. Delta Financial Group Inc. acquired a new stake in Republic Services in the 1st quarter valued at approximately $202,000. Caprock Group LLC raised its position in Republic Services by 16.0% in the 1st quarter. Caprock Group LLC now owns 1,455 shares of the business services provider’s stock valued at $279,000 after buying an additional 201 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Republic Services by 2.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 34,003 shares of the business services provider’s stock valued at $6,510,000 after buying an additional 692 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

RSG opened at $195.29 on Tuesday. The business has a fifty day simple moving average of $188.94 and a 200 day simple moving average of $182.65. The company has a market capitalization of $61.50 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.27 and a beta of 0.69. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $196.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53.

Republic Services (NYSE:RSGGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS. Research analysts expect that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.10%. Republic Services’s dividend payout ratio is presently 37.54%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Katharine Weymouth purchased 540 shares of the stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RSG shares. UBS Group lifted their target price on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their price target on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley downgraded Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a research note on Friday, March 15th. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target for the company. Finally, Oppenheimer raised their price target on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $201.14.

Read Our Latest Stock Report on Republic Services

Republic Services Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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