Trust Investment Advisors Makes New $279,000 Investment in Republic Services, Inc. $RSG

Trust Investment Advisors acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,132 shares of the business services provider’s stock, valued at approximately $279,000.

A number of other hedge funds have also recently added to or reduced their stakes in RSG. Golden State Wealth Management LLC grew its holdings in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Key Financial Inc grew its holdings in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. TCTC Holdings LLC grew its holdings in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Finally, Elequin Capital LP bought a new stake in Republic Services during the 1st quarter worth about $30,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 1.0%

Republic Services stock opened at $220.91 on Tuesday. The company’s 50 day simple moving average is $227.52 and its 200 day simple moving average is $238.56. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm has a market capitalization of $68.97 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. Republic Services’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 EPS. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 36.98%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays began coverage on shares of Republic Services in a research note on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Stifel Nicolaus began coverage on shares of Republic Services in a research note on Monday, September 29th. They issued a “buy” rating and a $257.00 target price on the stock. Scotiabank set a $250.00 target price on shares of Republic Services in a research note on Friday, October 10th. Finally, BMO Capital Markets raised their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.10.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.11% 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.