AlphaCore Capital LLC Purchases 24,550 Shares of Republic Services, Inc. $RSG

AlphaCore Capital LLC lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 1,386.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,321 shares of the business services provider’s stock after purchasing an additional 24,550 shares during the period. AlphaCore Capital LLC’s holdings in Republic Services were worth $5,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RSG. Brighton Jones LLC increased its stake in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after acquiring an additional 8,547 shares during the period. Federated Hermes Inc. increased its stake in Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after acquiring an additional 3,303 shares during the period. NewEdge Advisors LLC increased its stake in Republic Services by 3.6% during the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock worth $7,322,000 after acquiring an additional 1,044 shares during the period. Treasurer of the State of North Carolina increased its stake in Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock worth $23,336,000 after acquiring an additional 688 shares during the period. Finally, Ieq Capital LLC increased its stake in Republic Services by 68.4% during the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after acquiring an additional 4,729 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RSG. UBS Group reduced their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays raised their target price on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company raised their target price on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. BMO Capital Markets reduced their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada raised their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $245.15.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 499,150 shares of company stock worth $100,527,357. 0.12% of the stock is currently owned by insiders.

Republic Services Stock Performance

NYSE:RSG opened at $208.12 on Friday. The stock has a market cap of $64.03 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 3.43 and a beta of 0.43. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average is $214.67 and its 200-day moving average is $214.89. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 earnings per share. Equities research analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s payout ratio is presently 36.15%.

Republic Services 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.