Cetera Investment Advisers Trims Holdings in Republic Services, Inc. $RSG

Cetera Investment Advisers reduced its stake in Republic Services, Inc. (NYSE:RSG) by 17.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 98,384 shares of the business services provider’s stock after selling 21,122 shares during the quarter. Cetera Investment Advisers’ holdings in Republic Services were worth $21,548,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RSG. Wealth Watch Advisors INC purchased a new stake in Republic Services during the 3rd quarter worth about $26,000. Laurel Wealth Advisors LLC acquired a new position in Republic Services in the fourth quarter valued at $25,000. Prosperity Bancshares Inc purchased a new position in shares of Republic Services during the fourth quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in shares of Republic Services during the fourth quarter worth about $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Robert W. Baird dropped their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. JPMorgan Chase & Co. raised their target price on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Citigroup upped their price target on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada increased their price target on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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 bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Republic Services Stock Down 0.1%

Shares of Republic Services stock opened at $216.74 on Tuesday. Republic Services, Inc. has a one year low of $196.41 and a one year high of $246.25. The company has a market cap of $66.68 billion, a P/E ratio of 31.10, a PEG ratio of 3.63 and a beta of 0.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day moving average of $212.28 and a two-hundred day moving average of $214.91.

Republic Services (NYSE:RSG) last issued its 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. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast that Republic Services, Inc. will post 7.29 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a $0.625 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 35.87%.

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.