Republic Services, Inc. $RSG Shares Sold by Drake & Associates LLC

Drake & Associates LLC decreased its stake in Republic Services, Inc. (NYSE:RSG) by 28.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,817 shares of the business services provider’s stock after selling 3,101 shares during the quarter. Drake & Associates LLC’s holdings in Republic Services were worth $1,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kera Capital Partners Inc. boosted its holdings in Republic Services by 26.9% in the 4th quarter. Kera Capital Partners Inc. now owns 1,183 shares of the business services provider’s stock worth $254,000 after acquiring an additional 251 shares during the period. Virtu Financial LLC raised its stake in shares of Republic Services by 247.5% during the fourth quarter. Virtu Financial LLC now owns 20,793 shares of the business services provider’s stock valued at $4,406,000 after purchasing an additional 14,809 shares during the period. MV Capital Management Inc. acquired a new position in shares of Republic Services during the fourth quarter worth $134,000. Dean Capital Management boosted its stake in shares of Republic Services by 3.2% in the fourth quarter. Dean Capital Management now owns 8,370 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 261 shares during the period. Finally, Vancity Investment Management Ltd acquired a new stake in Republic Services during the 4th quarter valued at $216,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG opened at $204.87 on Friday. Republic Services, Inc. has a one year low of $196.41 and a one year high of $251.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $63.03 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 3.41 and a beta of 0.41. The company has a 50-day moving average of $207.69 and a two-hundred day moving average of $214.24.

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

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is presently 36.15%.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider directly owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Robert W. Baird cut their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Wells Fargo & Company raised their price objective on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Citigroup decreased their price objective on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.26.

Republic Services 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.