GRIMES & Co WEALTH MANAGEMENT LLC Buys Shares of 4,271 Republic Services, Inc. $RSG

GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,271 shares of the business services provider’s stock, valued at approximately $980,000.

A number of other institutional investors have also recently bought and sold shares of the company. Financial Consulate Inc. acquired a new position in Republic Services in the 3rd quarter worth about $25,000. Cranbrook Wealth Management LLC grew its stake in shares of 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 buying an additional 110 shares in the last quarter. NewSquare Capital LLC grew its stake in shares of Republic Services by 68.5% in 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 bought a new position in Republic Services during the second quarter valued at approximately $33,000. Finally, Atticus Wealth Management LLC acquired a new stake in Republic Services in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.6%

Republic Services stock opened at $209.59 on Wednesday. Republic Services, Inc. has a 52 week low of $201.42 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $64.88 billion, a PE ratio of 31.19, a PEG ratio of 3.45 and a beta of 0.55. The business’s 50-day simple moving average is $212.29 and its 200-day simple moving average is $224.22.

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 the consensus estimate of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 EPS. Equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be given 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 payout ratio is 37.20%.

Insider Buying and Selling

In related news, Director Katharine Weymouth purchased 478 shares of Republic Services stock in a transaction on Tuesday, December 9th. The stock was purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the acquisition, the director directly owned 5,740 shares in the company, valued at approximately $1,202,300.40. This trade 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 this link. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays began coverage on shares of Republic Services in a research note on Friday, September 19th. They set an “equal weight” rating and a $240.00 price target on the stock. Bank of America lowered their target price on shares of Republic Services from $271.00 to $241.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. National Bankshares reduced their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. UBS Group set a $220.00 price objective on Republic Services in a report on Monday, January 5th. Finally, Raymond James Financial restated an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $250.41.

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.