Rossby Financial LCC Raises Position in Republic Services, Inc. $RSG

Rossby Financial LCC increased its holdings in Republic Services, Inc. (NYSE:RSG) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,347 shares of the business services provider’s stock after purchasing an additional 157 shares during the quarter. Rossby Financial LCC’s holdings in Republic Services were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Capital Management Associates Inc bought a new stake in Republic Services in the 1st quarter worth $314,000. BNP Paribas Financial Markets grew its holdings in Republic Services by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock worth $116,048,000 after acquiring an additional 43,387 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Republic Services in the 1st quarter worth $22,078,000. Finally, Ascent Group LLC grew its holdings in Republic Services by 6.3% in the 2nd quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after acquiring an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 1.0%

NYSE:RSG opened at $220.91 on Tuesday. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50-day simple moving average is $227.52 and its 200 day simple moving average is $238.56. The firm has a market capitalization of $68.97 billion, a P/E ratio of 32.68, a PEG ratio of 3.60 and a beta of 0.59.

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

Republic Services Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on RSG. Citigroup cut their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Scotiabank set a $250.00 price target on shares of Republic Services in a report on Friday, October 10th. Oppenheimer cut their target price on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus assumed coverage on shares of Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus target price of $257.10.

Insider Activity

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

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.