Creative Planning Has $728,000 Stake in Republic Services, Inc. (RSG)
Creative Planning cut its stake in Republic Services, Inc. (NYSE:RSG) by 24.3% during the first quarter, Holdings Channel reports. The firm owned 11,592 shares of the business services provider’s stock after selling 3,719 shares during the period. Creative Planning’s holdings in Republic Services were worth $728,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in Republic Services during the fourth quarter valued at approximately $120,000. TLP Group LLC acquired a new position in Republic Services during the third quarter valued at approximately $125,000. M&R Capital Management Inc. increased its position in Republic Services by 120.0% in the fourth quarter. M&R Capital Management Inc. now owns 2,200 shares of the business services provider’s stock valued at $125,000 after buying an additional 1,200 shares during the period. Independent Advisor Alliance acquired a new position in Republic Services during the fourth quarter valued at approximately $173,000. Finally, RFG Advisory Group LLC acquired a new position in Republic Services during the fourth quarter valued at approximately $202,000. 62.52% of the stock is owned by institutional investors.
Republic Services, Inc. (NYSE:RSG) opened at 63.01 on Friday. The company has a market capitalization of $21.37 billion, a P/E ratio of 35.40 and a beta of 0.59. Republic Services, Inc. has a one year low of $45.56 and a one year high of $63.84. The firm has a 50-day moving average of $62.65 and a 200 day moving average of $57.26.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 16th. The business services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The company earned $2.38 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Republic Services had a net margin of 6.40% and a return on equity of 9.62%. Republic Services’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS. On average, equities analysts forecast that Republic Services, Inc. will post $2.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Monday, April 3rd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, March 30th. Republic Services’s dividend payout ratio (DPR) is presently 74.85%.
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Several research firms recently commented on RSG. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Republic Services in a report on Friday, February 17th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, February 28th. Stifel Nicolaus raised their price objective on shares of Republic Services from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, February 13th. Wedbush raised their price objective on shares of Republic Services from $61.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, February 21st. Finally, Barclays PLC downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $55.00 to $57.00 in a report on Wednesday, March 1st. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $64.56.
In related news, Director Tomago Collins sold 1,280 shares of Republic Services stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $61.77, for a total value of $79,065.60. Following the completion of the sale, the director now directly owns 9,823 shares in the company, valued at approximately $606,766.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Catharine D. Ellingsen sold 1,625 shares of Republic Services stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $62.21, for a total transaction of $101,091.25. Following the completion of the sale, the executive vice president now owns 3,589 shares of the company’s stock, valued at $223,271.69. The disclosure for this sale can be found here. Insiders sold a total of 155,996 shares of company stock valued at $9,575,351 over the last quarter. 0.50% of the stock is owned by company insiders.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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