Vaughan Nelson Investment Management L.P. Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Vaughan Nelson Investment Management L.P. trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,212 shares of the business services provider’s stock after selling 950 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Republic Services were worth $10,952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC purchased a new position in shares of Republic Services in the 4th quarter valued at about $30,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Republic Services in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp boosted its stake 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 buying an additional 211 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Republic Services in the 4th quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Republic Services in the 4th quarter valued at about $41,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.4 %

RSG stock opened at $193.16 on Wednesday. The firm has a market cap of $60.83 billion, a P/E ratio of 33.89, a P/E/G 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 business’s 50 day moving average is $188.76 and its 200-day moving average is $181.54. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating 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. Equities analysts anticipate that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RSG shares. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a research note on Friday, March 15th. Royal Bank of Canada initiated coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. UBS Group upped their target price on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group raised their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

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.