Graham Capital Management L.P. Takes $4.90 Million Position in Republic Services, Inc. $RSG

Graham Capital Management L.P. purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,100 shares of the business services provider’s stock, valued at approximately $4,896,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new position in Republic Services during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in Republic Services during the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC acquired a new position in Republic Services during the 4th quarter worth approximately $32,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Republic Services during the 4th quarter worth approximately $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 987,150 shares of company stock valued at $202,366,682 over the last quarter. Company insiders own 0.12% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $209.30 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $251.17. The stock’s 50 day moving average is $208.25 and its two-hundred day moving average is $214.39. The company has a market capitalization of $64.39 billion, a PE ratio of 30.03, a P/E/G ratio of 3.42 and a beta of 0.41.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the business earned $1.58 EPS. Republic Services’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is 36.15%.

Analysts Set New Price Targets

Several research firms recently commented on RSG. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Citigroup dropped their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price objective on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $243.26.

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.