Peachtree Investment Partners LLC Reduces Stock Holdings in Republic Services, Inc. $RSG

Peachtree Investment Partners LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 69.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,042 shares of the business services provider’s stock after selling 2,402 shares during the quarter. Peachtree Investment Partners LLC’s holdings in Republic Services were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Azzad Asset Management Inc. ADV bought a new position in shares of Republic Services during the 3rd quarter worth approximately $3,524,000. SteelPeak Wealth LLC lifted its position in shares of Republic Services by 130.0% during the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after buying an additional 7,001 shares during the period. Citigroup Inc. lifted its position in shares of Republic Services by 68.8% during the 3rd quarter. Citigroup Inc. now owns 352,462 shares of the business services provider’s stock worth $80,883,000 after buying an additional 143,704 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Republic Services by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider’s stock worth $711,003,000 after buying an additional 409,142 shares during the period. Finally, Rathbones Group PLC boosted its stake in shares of Republic Services by 11.5% in the 3rd quarter. Rathbones Group PLC now owns 93,182 shares of the business services provider’s stock valued at $21,383,000 after purchasing an additional 9,611 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 1.3%

RSG stock opened at $210.59 on Friday. The business has a fifty day moving average price of $209.81 and a 200 day moving average price of $214.75. The stock has a market capitalization of $64.79 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 3.42 and a beta of 0.41. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $255.47. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $1.58 EPS. Analysts expect that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is 35.87%.

Analyst Ratings Changes

Several brokerages have recently commented on RSG. UBS Group reduced their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Morgan Stanley reduced their target price on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, Robert W. Baird reduced their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $245.15.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired 987,150 shares of company stock worth $202,366,682 over the last ninety days. 0.12% of the stock is owned by insiders.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.