Republic Services, Inc. (NYSE:RSG) Shares Sold by Financial Network Wealth Management LLC

Financial Network Wealth Management LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,877 shares of the business services provider’s stock after selling 150 shares during the period. Financial Network Wealth Management LLC’s holdings in Republic Services were worth $1,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its stake in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after purchasing an additional 1,477,255 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Republic Services in the 4th quarter valued at $184,827,000. Nordea Investment Management AB lifted its stake in shares of Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Republic Services by 544.7% in the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after purchasing an additional 460,989 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RSG. Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Jefferies Financial Group boosted their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. Finally, Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Price Performance

Shares of NYSE RSG opened at $234.79 on Friday. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95. The company has a market cap of $73.32 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock’s 50-day moving average is $224.37 and its two-hundred day moving average is $212.44.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business posted $1.41 EPS. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. Republic Services’s payout ratio is currently 35.75%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Company Profile

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.