Alhambra Investment Management LLC Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Alhambra Investment Management LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,342 shares of the business services provider’s stock after selling 130 shares during the period. Alhambra Investment Management LLC’s holdings in Republic Services were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RSG. Trium Capital LLP boosted its stake in Republic Services by 11.3% in the 4th quarter. Trium Capital LLP now owns 11,178 shares of the business services provider’s stock worth $2,249,000 after purchasing an additional 1,139 shares during the period. Merit Financial Group LLC bought a new position in shares of Republic Services during the fourth quarter worth $546,000. Chemistry Wealth Management LLC grew its stake in Republic Services by 25.1% during the fourth quarter. Chemistry Wealth Management LLC now owns 1,369 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 275 shares in the last quarter. Avanza Fonder AB purchased a new stake in Republic Services in the 4th quarter worth $4,430,000. Finally, Procyon Advisors LLC boosted its holdings in shares of Republic Services by 32.4% during the 4th quarter. Procyon Advisors LLC now owns 1,466 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RSG shares. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $211.00 to $238.00 in a report on Friday, December 6th. CIBC boosted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.12.

Republic Services Stock Up 0.9 %

RSG stock opened at $213.85 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s fifty day simple moving average is $209.23 and its 200-day simple moving average is $204.29. Republic Services, Inc. has a 12 month low of $165.99 and a 12 month high of $220.58. The company has a market capitalization of $66.97 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.73.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.58 per share. The ex-dividend date of this dividend 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 37.12%.

Insider Activity at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.