CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Position in Republic Services, Inc. (NYSE:RSG)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 22.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,000 shares of the business services provider’s stock after acquiring an additional 2,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Republic Services were worth $2,209,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its stake in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Republic Services during the 1st quarter worth approximately $29,000. Webster Bank N. A. acquired a new position in Republic Services in the third quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services in the 2nd quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Republic Services during the 2nd quarter worth approximately $45,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock traded down $0.34 during trading hours on Tuesday, reaching $203.77. The company’s stock had a trading volume of 213,699 shares, compared to its average volume of 1,135,247. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. Republic Services, Inc. has a one year low of $142.65 and a one year high of $208.69. The company’s 50 day simple moving average is $204.01 and its 200 day simple moving average is $196.06. The stock has a market cap of $64.00 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 3.29 and a beta of 0.69.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. As a group, analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd were issued a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, October 2nd. Republic Services’s payout ratio is presently 38.86%.

Analysts Set New Price Targets

Several analysts recently commented on RSG shares. Stifel Nicolaus upped their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Oppenheimer raised their price target on Republic Services from $210.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada increased their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Scotiabank initiated coverage on Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $212.18.

Republic Services Profile

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.