Sterling Capital Management LLC Acquires 15,795 Shares of Republic Services, Inc. $RSG

Sterling Capital Management LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1,696.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,726 shares of the business services provider’s stock after buying an additional 15,795 shares during the period. Sterling Capital Management LLC’s holdings in Republic Services were worth $3,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in RSG. Laurel Wealth Advisors LLC purchased a new position in Republic Services in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new position in shares of Republic Services in the 3rd quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Republic Services during the 3rd quarter worth approximately $29,000. Prosperity Bancshares Inc acquired a new stake in Republic Services in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Republic Services during the fourth quarter worth $32,000. 57.73% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research analyst reports. Barclays boosted their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. UBS Group dropped their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Finally, Robert W. Baird reduced their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Stock Performance

Shares of NYSE RSG opened at $216.46 on Friday. The company has a market capitalization of $66.60 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The company’s fifty day moving average price is $207.25 and its 200 day moving average price is $214.06. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.82.

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 analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion during 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%.Republic Services’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is presently 36.15%.

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.