GWN Securities Inc. Boosts Stock Holdings in Republic Services, Inc. $RSG

GWN Securities Inc. raised its holdings in Republic Services, Inc. (NYSE:RSG) by 71.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,648 shares of the business services provider’s stock after purchasing an additional 13,587 shares during the period. Republic Services accounts for about 1.5% of GWN Securities Inc.’s holdings, making the stock its 11th biggest position. GWN Securities Inc.’s holdings in Republic Services were worth $8,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. C WorldWide Group Holding A S purchased a new stake in shares of Republic Services during the first quarter worth $230,013,000. Nuveen LLC purchased a new stake in shares of Republic Services during the first quarter worth $198,685,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Republic Services by 118.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after purchasing an additional 437,190 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Republic Services by 27.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider’s stock valued at $427,009,000 after purchasing an additional 384,695 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Republic Services during the 2nd quarter valued at $71,292,000. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the stock an “outperform” rating in a research note on Monday, October 6th. National Bankshares lowered their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Finally, Barclays assumed coverage on shares of Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $257.10.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Stock Performance

NYSE RSG opened at $220.91 on Tuesday. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $68.97 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a fifty day moving average of $227.52 and a 200-day moving average of $238.56.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the business posted $1.61 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is 36.98%.

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.