SG Americas Securities LLC Acquires 283,089 Shares of Republic Services, Inc. $RSG

SG Americas Securities LLC grew its holdings in Republic Services, Inc. (NYSE:RSG) by 49.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 858,726 shares of the business services provider’s stock after acquiring an additional 283,089 shares during the period. SG Americas Securities LLC’s holdings in Republic Services were worth $188,078,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in RSG. Brighton Jones LLC boosted 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 valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Federated Hermes Inc. raised 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 worth $4,329,000 after buying an additional 3,303 shares in the last quarter. NewEdge Advisors LLC raised 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 worth $7,322,000 after buying an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock worth $23,336,000 after buying an additional 688 shares during the period. Finally, Ieq Capital LLC boosted its stake in 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 buying an additional 4,729 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on RSG shares. Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada upped their target price on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wolfe Research started coverage on shares of Republic Services in a report on Friday, March 13th. They set a “peer perform” rating for the company. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a research 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. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $243.26.

Insider Transactions at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director owned 58 shares of the company’s stock, valued at $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was bought at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the transaction, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 987,150 shares of company stock valued at $202,366,682. Insiders own 0.12% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $204.87 on Monday. 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 firm has a market cap of $63.03 billion, a P/E ratio of 29.39, a P/E/G ratio of 3.37 and a beta of 0.41. The business’s fifty day moving average is $207.44 and its two-hundred day moving average is $214.17. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $251.17.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 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.