HighPoint Advisor Group LLC Purchases New Stake in Republic Services, Inc. (NYSE:RSG)

HighPoint Advisor Group LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSGFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,728 shares of the business services provider’s stock, valued at approximately $945,000.

A number of other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of Republic Services by 1.2% in the third quarter. HighTower Advisors LLC now owns 25,697 shares of the business services provider’s stock valued at $3,663,000 after acquiring an additional 295 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Republic Services by 10.3% in the third quarter. Rafferty Asset Management LLC now owns 16,353 shares of the business services provider’s stock valued at $2,330,000 after acquiring an additional 1,525 shares in the last quarter. Korea Investment CORP lifted its position in shares of Republic Services by 39.8% in the third quarter. Korea Investment CORP now owns 105,154 shares of the business services provider’s stock valued at $14,985,000 after acquiring an additional 29,961 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Republic Services in the third quarter valued at $2,578,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Republic Services by 50.9% in the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after acquiring an additional 303,754 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of Republic Services stock traded down $0.04 on Tuesday, reaching $191.65. 35,813 shares of the company were exchanged, compared to its average volume of 1,170,984. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The company’s 50-day moving average is $187.90 and its two-hundred day moving average is $179.41. The firm has a market cap of $60.36 billion, a price-to-earnings ratio of 33.63, a P/E/G ratio of 3.17 and a beta of 0.68. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $196.76.

Republic Services (NYSE:RSGGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the firm earned $1.24 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. Republic Services’s payout ratio is 37.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a research note on Thursday, May 23rd. They issued a “hold” rating and a $203.00 target price for the company. Citigroup upped their price target on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Jefferies Financial Group increased 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. Finally, The Goldman Sachs Group increased their price target on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.14.

Read Our Latest Report on RSG

Insider Buying and Selling at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.

Further Reading

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

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