SlateStone Wealth LLC Buys 1,000 Shares of Republic Services, Inc. (NYSE:RSG)

SlateStone Wealth LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,325 shares of the business services provider’s stock after buying an additional 1,000 shares during the quarter. SlateStone Wealth LLC’s holdings in Republic Services were worth $713,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RSG. Magellan Asset Management Ltd lifted its holdings in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the period. FMR LLC lifted its holdings in Republic Services by 34.4% in the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after buying an additional 563,761 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Republic Services in the fourth quarter valued at $77,417,000. Envestnet Asset Management Inc. lifted its holdings in Republic Services by 50.9% in the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after buying an additional 303,754 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Republic Services by 1,383.0% in the third quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock valued at $34,359,000 after buying an additional 224,841 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Jefferies Financial Group upped their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Scotiabank assumed coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Royal Bank of Canada assumed coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Stock Down 0.3 %

RSG stock traded down $0.49 during trading on Tuesday, reaching $191.27. The stock had a trading volume of 561,447 shares, compared to its average volume of 1,193,875. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.99. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company’s 50 day moving average is $186.29 and its two-hundred day moving average is $169.53. The company has a market capitalization of $60.25 billion, a price-to-earnings ratio of 35.06, a P/E/G ratio of 3.32 and a beta of 0.68.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm posted $1.13 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio is currently 39.12%.

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.