Conning Inc. Has $4.45 Million Stake in Republic Services, Inc. $RSG

Conning Inc. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 1,251.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,371 shares of the business services provider’s stock after purchasing an additional 17,938 shares during the period. Conning Inc.’s holdings in Republic Services were worth $4,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cassia Capital Partners LLC grew its stake in shares of Republic Services by 13.9% in the third quarter. Cassia Capital Partners LLC now owns 5,569 shares of the business services provider’s stock valued at $1,278,000 after acquiring an additional 679 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Republic Services by 1.1% during the 3rd quarter. Versant Capital Management Inc now owns 10,105 shares of the business services provider’s stock worth $2,319,000 after purchasing an additional 107 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Republic Services by 10.0% during the third quarter. Stephens Inc. AR now owns 20,041 shares of the business services provider’s stock worth $4,599,000 after purchasing an additional 1,817 shares during the period. Exencial Wealth Advisors LLC acquired a new stake in shares of Republic Services in the third quarter valued at approximately $205,000. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of Republic Services by 1.1% in the third quarter. Concurrent Investment Advisors LLC now owns 15,715 shares of the business services provider’s stock valued at $3,606,000 after buying an additional 165 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank dropped their price objective on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Sanford C. Bernstein upped their price objective on shares of Republic Services from $205.00 to $220.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. Citigroup reduced their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Bank of America reduced their price target 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. Finally, National Bankshares cut their target price on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $250.41.

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the company’s 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 completion of the purchase, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Republic Services Trading Up 0.5%

NYSE RSG opened at $210.61 on Thursday. The company has a market cap of $65.20 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 3.43 and a beta of 0.55. Republic Services, Inc. has a twelve month low of $201.42 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 business’s fifty day moving average is $212.37 and its 200 day moving average is $224.13.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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