Parcion Private Wealth LLC Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

Parcion Private Wealth LLC raised its holdings in Republic Services, Inc. (NYSE:RSG) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,527 shares of the business services provider’s stock after purchasing an additional 256 shares during the quarter. Parcion Private Wealth LLC’s holdings in Republic Services were worth $4,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of Republic Services by 8.1% during the 3rd quarter. Creative Planning now owns 31,447 shares of the business services provider’s stock worth $6,316,000 after acquiring an additional 2,360 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Republic Services by 14.5% during the 3rd quarter. Whittier Trust Co. now owns 1,162 shares of the business services provider’s stock worth $233,000 after acquiring an additional 147 shares in the last quarter. Eastern Bank purchased a new stake in shares of Republic Services during the 3rd quarter worth about $673,000. Waldron Private Wealth LLC boosted its stake in shares of Republic Services by 6.3% during the 3rd quarter. Waldron Private Wealth LLC now owns 1,549 shares of the business services provider’s stock worth $311,000 after acquiring an additional 92 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its stake in shares of Republic Services by 99.7% during the 3rd quarter. Segment Wealth Management LLC now owns 5,147 shares of the business services provider’s stock worth $1,034,000 after acquiring an additional 2,570 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $229.59 on Thursday. 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 stock has a market capitalization of $71.70 billion, a P/E ratio of 35.38, a PEG ratio of 3.61 and a beta of 0.74. The company has a 50 day moving average price of $212.03 and a 200 day moving average price of $208.11. Republic Services, Inc. has a fifty-two week low of $179.62 and a fifty-two week high of $232.52.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company posted $1.41 EPS. Equities research analysts forecast that Republic Services, Inc. will post 6.85 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.01%. Republic Services’s payout ratio is 35.75%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday. William Blair restated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Stifel Nicolaus upped their price target on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group increased their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.75.

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.