Park Avenue Securities LLC Trims Stake in Republic Services, Inc. (NYSE:RSG)

Park Avenue Securities LLC lowered its position in Republic Services, Inc. (NYSE:RSG) by 4.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,086 shares of the business services provider’s stock after selling 267 shares during the period. Park Avenue Securities LLC’s holdings in Republic Services were worth $1,165,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RSG. Capital World Investors boosted its holdings in Republic Services by 416.9% in the 4th quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after buying an additional 5,292,862 shares during the period. Norges Bank bought a new position in Republic Services in the 4th quarter worth $358,837,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in Republic Services in the 4th quarter worth $77,417,000. Corient Private Wealth LLC boosted its holdings in Republic Services by 136.5% in the 4th quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock worth $59,681,000 after buying an additional 208,902 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Republic Services by 8,931.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 204,028 shares of the business services provider’s stock worth $33,646,000 after buying an additional 201,769 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Republic Services stock opened at $194.66 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $196.76. The firm has a market capitalization of $61.30 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.68. The company’s 50-day moving average is $188.29 and its 200 day moving average is $180.47.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company posted $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts forecast that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares in the company, valued at approximately $100,040.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the purchase, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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 for the company. Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective for the company. The Goldman Sachs Group increased 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, Jefferies Financial Group upped their target price on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.14.

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.