First Trust Advisors LP Cuts Stock Position in Republic Services, Inc. $RSG

First Trust Advisors LP lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,623 shares of the business services provider’s stock after selling 72,398 shares during the quarter. First Trust Advisors LP owned 0.07% of Republic Services worth $49,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in Republic Services during the fourth quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in Republic Services in the third quarter valued at about $26,000. Prosperity Bancshares Inc bought a new position in shares of Republic Services during the 4th quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new stake in shares of Republic Services during the 4th quarter worth approximately $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services during the 4th quarter worth approximately $32,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup upped their price objective on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Robert W. Baird cut their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Barclays lifted their price objective on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada upped their price objective on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.89.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the purchase, the insider directly owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders bought 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

Republic Services Trading Down 0.1%

NYSE:RSG opened at $216.79 on Monday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25. The stock’s fifty day moving average price is $212.24 and its two-hundred day moving average price is $214.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $66.70 billion, a P/E ratio of 31.10, a P/E/G ratio of 3.63 and a beta of 0.40.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. As a group, analysts expect that Republic Services, Inc. will post 7.29 EPS for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were given a dividend of $0.625 per share. The ex-dividend date was Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 35.87%.

Republic Services Company 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.