DAVENPORT & Co LLC Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

DAVENPORT & Co LLC boosted its position in Republic Services, Inc. (NYSE:RSGFree Report) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 362,956 shares of the business services provider’s stock after purchasing an additional 1,341 shares during the period. DAVENPORT & Co LLC owned about 0.12% of Republic Services worth $59,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FinTrust Capital Advisors LLC lifted its position in shares of Republic Services by 56.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Republic Services during the 1st quarter valued at about $34,000. Millburn Ridgefield Corp purchased a new position in shares of Republic Services during the 3rd quarter valued at about $36,000. Catalyst Capital Advisors LLC purchased a new position in shares of Republic Services during the 3rd quarter valued at about $36,000. Finally, BKM Wealth Management LLC purchased a new position in shares of Republic Services during the 4th quarter valued at about $37,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Republic Services Trading Down 0.4 %

Shares of Republic Services stock traded down $0.83 on Tuesday, reaching $189.00. The company had a trading volume of 1,171,019 shares, compared to its average volume of 1,187,067. The firm has a market cap of $59.46 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 3.35 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50-day moving average price is $181.37 and its two-hundred day moving average price is $164.98. Republic Services, Inc. has a 1 year low of $133.81 and a 1 year high of $192.57.

Republic Services (NYSE:RSGGet Free Report) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, April 2nd will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, April 1st. Republic Services’s payout ratio is currently 39.12%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer lifted their target price on Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group lifted their target price on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. BMO Capital Markets lifted their target price on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. UBS Group downgraded Republic Services from a “buy” rating to a “neutral” rating and lifted their target price for the company from $175.00 to $195.00 in a research note on Thursday, February 29th. Finally, Stifel Nicolaus lifted their target price on Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.17.

Check Out Our Latest Report on RSG

About Republic Services

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.

See Also

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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