Republic Services, Inc. $RSG Stock Position Raised by Conning Inc.

Conning Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 17.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,729 shares of the business services provider’s stock after buying an additional 3,358 shares during the period. Conning Inc.’s holdings in Republic Services were worth $4,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RSG. Laurel Wealth Advisors LLC bought a new stake in shares of Republic Services during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC bought a new stake in shares of Republic Services during the 3rd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Republic Services by 121.8% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Republic Services during the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Republic Services during the 4th quarter valued at about $32,000. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on RSG shares. Barclays upped their target price on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings cut shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Citigroup decreased their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Finally, Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $245.15.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction dated Wednesday, May 13th. The stock was bought 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 approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 499,150 shares of company stock valued at $100,527,357. Corporate insiders own 0.12% of the company’s stock.

Republic Services Trading Up 2.5%

Shares of NYSE:RSG opened at $208.67 on Friday. The company has a 50 day moving average of $215.14 and a 200-day moving average of $214.94. The firm has a market cap of $64.20 billion, a P/E ratio of 29.94, a P/E/G ratio of 3.35 and a beta of 0.43. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last issued 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 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 for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. As a group, analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid 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 of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 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.