Rafferty Asset Management LLC Buys 1,901 Shares of Republic Services, Inc. (NYSE:RSG)

Rafferty Asset Management LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,018 shares of the business services provider’s stock after buying an additional 1,901 shares during the period. Rafferty Asset Management LLC’s holdings in Republic Services were worth $3,826,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Republic Services by 11.0% in the 3rd quarter. Barclays PLC now owns 675,163 shares of the business services provider’s stock worth $135,598,000 after purchasing an additional 66,842 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Republic Services by 49.0% in the 4th quarter. Park Avenue Securities LLC now owns 7,702 shares of the business services provider’s stock worth $1,549,000 after purchasing an additional 2,534 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of Republic Services in the 4th quarter worth $1,007,000. Procyon Advisors LLC increased its holdings in shares of Republic Services by 32.4% in the 4th quarter. Procyon Advisors LLC now owns 1,466 shares of the business services provider’s stock worth $295,000 after purchasing an additional 359 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Republic Services in the 4th quarter worth $546,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $247.69 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $241.00 and a two-hundred day simple moving average of $224.29. The stock has a market cap of $77.40 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.64 and a beta of 0.66. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $253.54.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 earnings per share. On average, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s payout ratio is 34.99%.

Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on RSG shares. Citigroup lifted their target price on Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Seaport Res Ptn raised Republic Services to a “strong-buy” rating in a report on Tuesday, May 6th. Scotiabank upped their price objective on Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley upped their price objective on Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.00.

Republic Services Company Profile

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.