Anchor Investment Management LLC Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Anchor Investment Management LLC lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,039 shares of the business services provider’s stock after purchasing an additional 538 shares during the quarter. Anchor Investment Management LLC’s holdings in Republic Services were worth $7,854,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Arcadia Investment Management Corp MI lifted its stake in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd acquired a new position in Republic Services during the 4th quarter worth approximately $32,000. New Age Alpha Advisors LLC raised its stake in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after buying an additional 73 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Republic Services in the fourth quarter valued at approximately $48,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RSG has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a report on Tuesday, March 4th. Scotiabank boosted their price target on Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 8th. Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.13.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $245.79 on Tuesday. The firm has a market capitalization of $76.76 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company has a 50 day moving average price of $233.74 and a 200 day moving average price of $217.10. Republic Services, Inc. has a one year low of $180.92 and a one year high of $249.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the previous year, the business earned $1.41 earnings per share. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

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.