Cullen Investment Group LTD. Acquires New Holdings in Republic Services, Inc. (NYSE:RSG)

Cullen Investment Group LTD. acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,328 shares of the business services provider’s stock, valued at approximately $1,209,000.

A number of other large investors have also added to or reduced their stakes in RSG. D.A. Davidson & CO. bought a new position in Republic Services in the 1st quarter valued at approximately $203,000. Synovus Financial Corp raised its holdings in Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after purchasing an additional 260 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Republic Services by 34.6% during the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock worth $523,000 after purchasing an additional 998 shares during the last quarter. Blair William & Co. IL raised its holdings in Republic Services by 1.6% during the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock worth $4,129,000 after purchasing an additional 495 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in Republic Services by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $187.27 on Tuesday. The firm has a market capitalization of $58.99 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.29 and a beta of 0.68. The firm has a fifty day simple moving average of $184.72 and a two-hundred day simple moving average of $167.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.57.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Analysts forecast that Republic Services, Inc. will post 6 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. Republic Services’s payout ratio is 39.12%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Citigroup raised their price target on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Royal Bank of Canada started coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective for the company. Morgan Stanley lowered 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 research note on Friday, March 15th. Finally, UBS Group lowered shares of Republic Services from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $175.00 to $195.00 in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $198.15.

Insider Transactions at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.