Republic Services, Inc. $RSG Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 181.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,271 shares of the business services provider’s stock after purchasing an additional 2,755 shares during the quarter. GSA Capital Partners LLP’s holdings in Republic Services were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the purchase, the insider directly owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RSG shares. Wolfe Research started coverage on shares of Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lifted their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Morgan Stanley cut their target price on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Finally, Citigroup cut their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Hold” and an average target price of $245.15.

Republic Services Stock Performance

Shares of RSG opened at $208.86 on Friday. The stock has a market capitalization of $64.26 billion, a P/E ratio of 29.97, a P/E/G ratio of 3.42 and a beta of 0.43. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $258.75. The company’s fifty day moving average is $213.03 and its two-hundred day moving average is $214.83. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS 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 analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. On average, sell-side analysts predict 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 given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is presently 36.15%.

About Republic Services

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.