Stephens Inc. AR Acquires 3,650 Shares of Republic Services, Inc. (RSG)

Stephens Inc. AR grew its holdings in Republic Services, Inc. (NYSE:RSG) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,666 shares of the business services provider’s stock after purchasing an additional 3,650 shares during the quarter. Stephens Inc. AR’s holdings in Republic Services were worth $1,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Peak Asset Management LLC boosted its position in shares of Republic Services by 0.6% in the fourth quarter. Peak Asset Management LLC now owns 21,790 shares of the business services provider’s stock valued at $1,571,000 after acquiring an additional 140 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Republic Services by 4.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,044 shares of the business services provider’s stock worth $219,000 after acquiring an additional 141 shares in the last quarter. Suntrust Banks Inc. raised its stake in Republic Services by 2.1% during the fourth quarter. Suntrust Banks Inc. now owns 7,380 shares of the business services provider’s stock worth $532,000 after acquiring an additional 154 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Republic Services by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,745 shares of the business services provider’s stock worth $703,000 after acquiring an additional 171 shares in the last quarter. Finally, Van Leeuwen & Company LLC raised its stake in Republic Services by 2.2% during the fourth quarter. Van Leeuwen & Company LLC now owns 8,310 shares of the business services provider’s stock worth $599,000 after acquiring an additional 180 shares in the last quarter. 60.75% of the stock is currently owned by institutional investors.

Several research analysts have commented on the company. Zacks Investment Research raised Republic Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Bank of America reissued a “neutral” rating and set a $85.00 target price (up previously from $79.00) on shares of Republic Services in a research note on Friday, April 26th. Stifel Nicolaus raised Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Monday, April 29th. Finally, UBS Group upped their target price on Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $81.97.

In other Republic Services news, Director Tomago Collins sold 4,102 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $80.59, for a total transaction of $330,580.18. Following the transaction, the director now directly owns 14,821 shares in the company, valued at approximately $1,194,424.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Donald W. Slager sold 69,966 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.66, for a total value of $5,783,389.56. Following the transaction, the chief executive officer now owns 287,610 shares in the company, valued at $23,773,842.60. The disclosure for this sale can be found here. Insiders have sold a total of 151,575 shares of company stock worth $12,472,125 over the last 90 days. Company insiders own 0.30% of the company’s stock.

RSG stock traded down $0.08 during trading on Friday, hitting $85.01. The company had a trading volume of 20,745 shares, compared to its average volume of 1,125,414. Republic Services, Inc. has a one year low of $66.40 and a one year high of $85.36. The stock has a market capitalization of $27.02 billion, a PE ratio of 27.51, a PEG ratio of 2.73 and a beta of 0.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.42 and a quick ratio of 0.42.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Republic Services had a return on equity of 12.72% and a net margin of 10.25%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 3.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, June 28th. Republic Services’s payout ratio is 48.54%.

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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.

Further Reading: Momentum Investing

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

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