HB Wealth Management LLC Raises Holdings in Republic Services, Inc. (NYSE:RSG)

HB Wealth Management LLC increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,560 shares of the business services provider’s stock after purchasing an additional 309 shares during the quarter. HB Wealth Management LLC’s holdings in Republic Services were worth $2,929,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in Republic Services during the third quarter worth $25,000. Wolff Wiese Magana LLC boosted its stake in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. acquired a new position in Republic Services during the third quarter worth $31,000. Truvestments Capital LLC acquired a new position in Republic Services during the third quarter worth $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Republic Services during the second quarter worth $36,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $213.85 on Monday. The stock’s 50-day moving average is $209.27 and its two-hundred day moving average is $204.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $165.99 and a 1-year high of $220.58. The company has a market cap of $66.97 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth 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 for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business earned $1.54 EPS. Republic Services’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a $0.58 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.08%. Republic Services’s payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and upped their price target for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Finally, Morgan Stanley upped their price target on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.12.

About Republic Services

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.