SignalPoint Asset Management LLC Acquires 265 Shares of Republic Services, Inc. (NYSE:RSG)

SignalPoint Asset Management LLC boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,860 shares of the business services provider’s stock after acquiring an additional 265 shares during the period. SignalPoint Asset Management LLC’s holdings in Republic Services were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FSA Wealth Management LLC bought a new stake in shares of Republic Services in the third quarter valued at about $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. bought a new stake in shares of Republic Services in the third quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of Republic Services in the third quarter valued at about $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services in the second quarter valued at about $36,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Republic Services stock opened at $209.66 on Thursday. Republic Services, Inc. has a 12 month low of $165.06 and a 12 month high of $220.58. The stock’s 50 day moving average is $209.10 and its 200-day moving average is $204.20. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $65.66 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.98 and a beta of 0.73.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 earnings per share. Equities research analysts expect that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RSG. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. William Blair assumed coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC upped their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley upped their target price on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus target price of $221.12.

Republic Services 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.