Kovitz Investment Group Partners LLC Raises Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Kovitz Investment Group Partners LLC raised its stake in Republic Services, Inc. (NYSE:RSG) by 89.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,184 shares of the business services provider’s stock after purchasing an additional 2,920 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Republic Services were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position 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 worth $1,205,883,000 after buying an additional 1,131,850 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Republic Services by 169.3% in the third quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider’s stock worth $111,366,000 after purchasing an additional 348,600 shares during the last quarter. Stifel Financial Corp increased its position in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Republic Services by 27.4% in the 3rd quarter. Quantinno Capital Management LP now owns 31,400 shares of the business services provider’s stock worth $6,306,000 after purchasing an additional 6,752 shares in the last quarter. Finally, Quarry LP grew its stake in Republic Services by 471.7% during the 3rd quarter. Quarry LP now owns 909 shares of the business services provider’s stock worth $183,000 after buying an additional 750 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Shares of NYSE RSG opened at $211.63 on Wednesday. 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 50 day simple moving average is $207.79 and its 200-day simple moving average is $201.26. Republic Services, Inc. has a 12 month low of $160.65 and a 12 month high of $220.58. The stock has a market capitalization of $66.27 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.31 and a beta of 0.71.

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 net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RSG. Royal Bank of Canada raised their price target on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Finally, Morgan Stanley lifted their price target on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.88.

Insider Activity

In other news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were 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 owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.