BKM Wealth Management LLC Raises Stake in Republic Services, Inc. (NYSE:RSG)

BKM Wealth Management LLC increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 612.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,604 shares of the business services provider’s stock after purchasing an additional 1,379 shares during the period. BKM Wealth Management LLC’s holdings in Republic Services were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RSG. Bogart Wealth LLC purchased a new stake in Republic Services during the 4th quarter worth about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Republic Services in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp raised its holdings in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 211 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Republic Services in the 4th quarter valued at about $41,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Republic Services by 53.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 298 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RSG shares. Scotiabank raised their price target on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective on the stock. UBS Group increased their price objective on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada initiated coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective on the stock. Finally, Oppenheimer increased their price objective on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

Insider Transactions at Republic Services

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

Republic Services Price Performance

RSG opened at $192.88 on Tuesday. The firm has a market cap of $60.74 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 3.26 and a beta of 0.69. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $196.76. The stock’s 50 day simple moving average is $188.74 and its 200 day simple moving average is $181.33. 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 (NYSE:RSG) last issued 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. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. As a group, analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services’s dividend payout ratio is currently 37.54%.

About Republic Services

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.