Fiduciary Alliance LLC Cuts Stake in Republic Services, Inc. $RSG

Fiduciary Alliance LLC lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,336 shares of the business services provider’s stock after selling 5,150 shares during the quarter. Fiduciary Alliance LLC’s holdings in Republic Services were worth $7,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ritholtz Wealth Management lifted its holdings in shares of Republic Services by 10.2% in the first quarter. Ritholtz Wealth Management now owns 10,055 shares of the business services provider’s stock worth $2,202,000 after buying an additional 929 shares in the last quarter. RFG Advisory LLC grew its stake in Republic Services by 26.0% during the first quarter. RFG Advisory LLC now owns 10,486 shares of the business services provider’s stock valued at $2,297,000 after acquiring an additional 2,163 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Republic Services by 11.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,062 shares of the business services provider’s stock valued at $1,109,000 after acquiring an additional 517 shares during the last quarter. OP Asset Management Ltd purchased a new stake in Republic Services in the 1st quarter worth $5,046,000. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Republic Services by 17.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,275 shares of the business services provider’s stock valued at $1,375,000 after purchasing an additional 952 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RSG shares. Citigroup cut their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Wells Fargo & Company increased their price target on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Robert W. Baird reduced their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Republic Services Stock Up 2.2%

Shares of NYSE:RSG opened at $213.71 on Thursday. The company has a market cap of $65.75 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 3.44 and a beta of 0.41. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $250.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average price of $207.11 and a 200 day moving average price of $214.06.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for 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 firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. As a group, equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% 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. bought 366,000 shares of Republic Services stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 over the last ninety days. 0.12% of the stock is owned by insiders.

Republic Services Company Profile

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.