Hickory Point Bank & Trust Takes $790,000 Position in Republic Services, Inc. (NYSE:RSG)

Hickory Point Bank & Trust acquired a new position in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,929 shares of the business services provider’s stock, valued at approximately $790,000. Republic Services accounts for approximately 0.7% of Hickory Point Bank & Trust’s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the period. Wellington Management Group LLP boosted its position in shares of Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after purchasing an additional 509,116 shares during the period. National Bank of Canada FI increased its holdings in Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after purchasing an additional 460,989 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Republic Services by 169.3% during the third quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider’s stock worth $111,366,000 after buying an additional 348,600 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

Shares of RSG stock opened at $237.42 on Friday. The firm has a market cap of $74.14 billion, a PE ratio of 36.58, a P/E/G ratio of 3.64 and a beta of 0.74. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $237.52. The company’s fifty day simple moving average is $215.73 and its 200-day simple moving average is $209.74. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the prior year, the business posted $1.41 EPS. Equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Activity

In other news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RSG has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair reissued an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Morgan Stanley raised their price objective on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $234.56.

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.