Brookstone Capital Management Grows Holdings in Republic Services, Inc. $RSG

Brookstone Capital Management boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,816 shares of the business services provider’s stock after acquiring an additional 4,299 shares during the period. Brookstone Capital Management’s holdings in Republic Services were worth $12,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cranbrook Wealth Management LLC lifted its holdings in shares of Republic Services by 1,222.2% during the second 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 last quarter. NewSquare Capital LLC increased its position in Republic Services by 68.5% during the 2nd 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 in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Republic Services during the second quarter valued at $33,000. Atticus Wealth Management LLC bought a new stake in Republic Services in the second quarter worth $39,000. Finally, Hilltop National Bank purchased a new stake in shares of Republic Services in the second quarter worth $47,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of Republic Services stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average price of $209.46 per share, with a total value of $100,121.88. Following the transaction, the director directly owned 5,740 shares of the company’s stock, valued at $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RSG. Scotiabank dropped their price target on shares of Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company began coverage on shares of Republic Services in a research note on Thursday, November 13th. They issued an “overweight” rating and a $238.00 target price on the stock. Citigroup cut their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Bank of America decreased their price objective on shares of Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a report on Monday. Finally, Sanford C. Bernstein initiated coverage on Republic Services in a research note on Wednesday, November 12th. They set a “market perform” rating and a $205.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average target price of $250.64.

Republic Services Stock Up 0.1%

Shares of Republic Services stock opened at $213.20 on Friday. Republic Services, Inc. has a twelve month low of $199.43 and a twelve month high of $258.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $213.44 and its 200 day moving average is $227.85. The company has a market cap of $66.00 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 3.67 and a beta of 0.54.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. Research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.20%.

Republic Services 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.