Carnegie Investment Counsel Raises Stock Holdings in Republic Services, Inc. $RSG

Carnegie Investment Counsel boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,142 shares of the business services provider’s stock after acquiring an additional 7,174 shares during the quarter. Carnegie Investment Counsel’s holdings in Republic Services were worth $15,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. Brighton Jones LLC grew its holdings in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after purchasing an additional 8,547 shares during the last quarter. CreativeOne Wealth LLC boosted its position in Republic Services by 4.9% in the 1st quarter. CreativeOne Wealth LLC now owns 3,847 shares of the business services provider’s stock valued at $932,000 after buying an additional 181 shares during the period. Ieq Capital LLC increased its position in shares of Republic Services by 39.6% during the first quarter. Ieq Capital LLC now owns 6,914 shares of the business services provider’s stock worth $1,674,000 after acquiring an additional 1,963 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Republic Services by 10.0% during the first quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock valued at $116,048,000 after acquiring an additional 43,387 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Republic Services in the first quarter valued at approximately $74,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RSG. Sanford C. Bernstein initiated coverage on Republic Services in a research report on Wednesday, November 12th. They set a “market perform” rating and a $205.00 target price for the company. Bank of America decreased their price objective on Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Jefferies Financial Group set a $248.00 target price on shares of Republic Services and gave the stock a “buy” rating in a report on Monday, November 3rd. Robert W. Baird set a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. Finally, Wells Fargo & Company began coverage on shares of Republic Services in a research note on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.64.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the acquisition, the director owned 5,740 shares in the company, valued at $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Stock Up 0.1%

Republic Services stock opened at $213.51 on Friday. The business has a fifty day moving average price of $213.31 and a 200-day moving average price of $227.60. Republic Services, Inc. has a 1-year low of $199.43 and a 1-year high of $258.75. The stock has a market capitalization of $66.09 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.67 and a beta of 0.54. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58.

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

Republic Services Dividend Announcement

The company also recently announced 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 dividend yield of 1.2%. Republic Services’s payout ratio is 37.20%.

About Republic Services

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.