Independent Advisor Alliance grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 201.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 12,038 shares of the business services provider’s stock after acquiring an additional 8,046 shares during the period. Independent Advisor Alliance’s holdings in Republic Services were worth $968,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Peak Asset Management LLC raised its position in shares of Republic Services by 0.6% during the 4th quarter. Peak Asset Management LLC now owns 21,790 shares of the business services provider’s stock worth $1,571,000 after buying an additional 140 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Republic Services by 4.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,044 shares of the business services provider’s stock worth $219,000 after buying an additional 141 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Republic Services by 2.1% during the 4th quarter. Suntrust Banks Inc. now owns 7,380 shares of the business services provider’s stock worth $532,000 after buying an additional 154 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Republic Services by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,745 shares of the business services provider’s stock worth $703,000 after buying an additional 171 shares in the last quarter. Finally, Van Leeuwen & Company LLC raised its position in shares of Republic Services by 2.2% during the 4th quarter. Van Leeuwen & Company LLC now owns 8,310 shares of the business services provider’s stock worth $599,000 after buying an additional 180 shares in the last quarter. Institutional investors own 60.75% of the company’s stock.
A number of research firms recently commented on RSG. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Bank of America reiterated a “neutral” rating and issued a $85.00 target price (up from $79.00) on shares of Republic Services in a report on Friday, April 26th. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $90.00 in a report on Monday, April 29th. Finally, UBS Group boosted their target price on shares of Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $81.97.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 25th. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.50 billion. Republic Services had a net margin of 10.25% and a return on equity of 12.72%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, research analysts expect that Republic Services, Inc. will post 3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, June 28th. Republic Services’s dividend payout ratio (DPR) is currently 48.54%.
In other news, Director Tomago Collins sold 4,102 shares of Republic Services stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $80.59, for a total value of $330,580.18. Following the transaction, the director now directly owns 14,821 shares of the company’s stock, valued at $1,194,424.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian A. Bales sold 22,831 shares of Republic Services stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $82.67, for a total transaction of $1,887,438.77. Following the completion of the transaction, the executive vice president now directly owns 23,804 shares in the company, valued at $1,967,876.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,575 shares of company stock worth $12,472,125. 0.30% of the stock is currently owned by insiders.
About Republic Services
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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