Tred Avon Family Wealth LLC Acquires New Position in Republic Services, Inc. $RSG

Tred Avon Family Wealth LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,287 shares of the business services provider’s stock, valued at approximately $1,902,000.

A number of other hedge funds have also modified their holdings of RSG. Ignite Planners LLC raised its position in shares of Republic Services by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 43 shares during the period. L2 Asset Management LLC boosted its holdings in Republic Services by 5.0% in the 2nd quarter. L2 Asset Management LLC now owns 908 shares of the business services provider’s stock worth $224,000 after buying an additional 43 shares during the period. Gries Financial LLC raised its holdings in Republic Services by 3.8% during the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 46 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Republic Services by 17.8% in the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 46 shares in the last quarter. Finally, ANB Bank grew its position in shares of Republic Services by 2.8% during the third quarter. ANB Bank now owns 1,691 shares of the business services provider’s stock worth $388,000 after purchasing an additional 46 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the subject of several recent analyst reports. National Bankshares dropped their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Oppenheimer set a $256.00 target price on shares of Republic Services in a research report on Friday, October 31st. UBS Group set a $220.00 price target on shares of Republic Services in a report on Monday, January 5th. Wells Fargo & Company began coverage on shares of Republic Services in a report on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.23.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth bought 478 shares of Republic Services stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average price of $209.46 per share, with a total value of $100,121.88. Following the completion of the purchase, the director owned 5,740 shares in the company, valued at $1,202,300.40. The trade was a 9.08% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $210.99 on Friday. The firm has a fifty day simple moving average of $212.61 and a two-hundred day simple moving average of $223.64. Republic Services, Inc. has a 52 week low of $201.42 and a 52 week high of $258.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $65.31 billion, a P/E ratio of 31.40, a PEG ratio of 3.45 and a beta of 0.55.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter last year, the firm earned $1.81 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Friday, January 2nd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, January 2nd. Republic Services’s dividend payout ratio is presently 37.20%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.