Allworth Financial LP Acquires 447 Shares of Republic Services, Inc. $RSG

Allworth Financial LP boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 33.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,767 shares of the business services provider’s stock after buying an additional 447 shares during the period. Allworth Financial LP’s holdings in Republic Services were worth $436,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RSG. Cranbrook Wealth Management LLC boosted its holdings in Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 110 shares during the period. NewSquare Capital LLC raised its position in shares of Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after buying an additional 50 shares during the last quarter. TCTC Holdings LLC lifted its stake in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the period. Elequin Capital LP acquired a new stake in Republic Services during the first quarter worth about $30,000. Finally, Atticus Wealth Management LLC bought a new position in Republic Services during the second quarter valued at about $39,000. 57.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on RSG. Wells Fargo & Company initiated coverage on Republic Services in a research report on Thursday. They set an “overweight” rating and a $238.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Republic Services in a research note on Wednesday, November 12th. They set a “market perform” rating and a $205.00 price target on the stock. Oppenheimer set a $256.00 price target on shares of Republic Services in a report on Friday, October 31st. National Bankshares reduced their price objective on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Finally, BMO Capital Markets upped their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $250.91.

Insider Transactions at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the acquisition, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.11% of the stock is currently owned by company insiders.

Republic Services Stock Up 1.8%

Shares of Republic Services stock opened at $209.74 on Monday. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75. The stock has a 50-day simple moving average of $220.23 and a 200-day simple moving average of $234.97. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $64.93 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

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.